El Cajon, CA. August 2018.
A real estate investor was in a competitive bidding situation and needed to write in the purchase contract a short escrow in order to make her offer stand out. Needing a reputable private lender that can move quickly, the borrower’s mortgage broker referred her to The Loan Company to help facilitate a fast close on the purchase of a residential investment property.
The borrower’s offer was accepted and The Loan Company was able to provide a $740,000 1st Trust Deed loan secured by a non-owner occupied single family residence with a below market purchase price of $1,035,000 or 71% loan-to-purchase price. The borrower will be able to make cosmetic upgrades to the home and resell the property at a profit within 6 months. The Loan Company provided the borrower an excellent bridge loan at a competitive private money rate and terms.