Closed Loans

 

 

Vista, CA, November 26, 2009.  The Loan Company of San Diego financed a $142,000 purchase loan on a single family residential, non-owner-occupied, investment property containing 1,326 rentable sq ft., 3BR/2Ba, 2 car garage on a 6,000 sq.ft. lot.  It was a bank REO which had multiple offers and if the borrower’s offer was to be accepted, at a $189,900 purchase price or 75% LTC, the lender had to close within in days.  The home was in need of some rehab with an estimated budget of approximately $20,000 for a total cost of $209,900.  The borrower needed a lender that could move fast and close quick.  By acquiring the property at the right price and knowing the proper improvements to be made, the borrower created an excellent investment opportunity.  The Loan Company provided the borrower competitively priced private money financing (9% interest) with excellent customer service and was able to accommodate the closing quickly making it easy and hassle free.