Closed Loans

San Diego, CA, October 3, 2011.  The Loan Company of San Diego provided a $312,000 loan commitment (1st Trust Deed) for the borrower to purchase a single family residence non-owner occupied investment property in the Pacific Beach area of San Diego. The purchase price for the 1,417 sq.ft. 4BR/ 2BA house (not including a 2BR/1BA unpermitted unit at the rear of the property) was $624,000. The borrower is remodeling the house and will sell the property upon completion as the exit strategy. The Loan Company provided a 50% loan to purchase price.  The sales comps easily support the purchase price as a conservative market value.  The Loan Company provided the borrower an excellent bridge loan with a competitive private money rate. The borrower was extremely pleased with The Loan Company’s ability to move fast and hassle free, allowing the borrower the flexibility and speed to compete in today’s competitive bidding process.