Closed Loans

 

 

Chula Vista, CA, December 8, 2009.  The Loan Company of San Diego financed a $136,000 purchase loan on a single family residential, non-owner-occupied, investment property containing 1,298 rentable sq ft., 2BR & den/2Ba, 2 car garage on a 21,780 sq.ft. lot with a view.  It was a bank REO ($185,000 purchase price) and needed to close quickly.  The home was in need of rehab with an estimated budget of approximately $45,000 for a total cost of $230,000 or 59% LTC.  The borrower needed a lender that understood the real value of the property considering the improvements to be done and was able to move fast, closing within the necessary time frame.  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 making it easy and hassle free.