2012 Closed Loans

 Ramona, CA. The Loan Company of San Diego financed a $255,000 bridge loan (1st Trust Deed) to purchase a non-owner occupied single family residence 4BR/3BA on a 19,000 sq.ft. lot with a pool and spa.  The purchase price was $266,000 (short sale) and the borrower planned a complete remodel with a budget of $75,000 for a total cost of $341,000 or 75% LTC.  The borrower provided 25% cash down to close.  The initial disbursement by [...]
Thu, Dec 27, 2012 4:00:00 PM, Continue reading [...]
San Diego, CA. The Loan Company of San Diego financed a $282,000 bridge loan (1st Trust Deed) to purchase a 2BR/1BA craftsman home in Hillcrest, non-owner occupied single family residence.  The purchase price was $312,100 (including referral fee) with the borrower putting down 25% cash ($78,100) to close. The house was dated and needed remodeling.  The initial disbursement by The Loan Company was $234,000 with a $48,000 holdback to be disbursed to the borrower subsequent [...]
Thu, Dec 13, 2012 4:02:00 PM, Continue reading [...]
Santee, CA. The Loan Company of San Diego provided a $120,000 term loan (1st Trust Deed) to refinance a residential duplex (detached) that included a 4BR/2BA house and 1BR/1BA unit in the rear of the property both  on one 14,000 sq.ft. lot.  The borrower purchased the property all cash for $155,000 and put approximately $16,000 in remodeling improvements for a total cost of $171,000 and plans on keeping the property as a rental.  The conservative [...]
Mon, Dec 10, 2012 4:04:00 PM, Continue reading [...]
Bonita, CA, The Loan Company of San Diego financed a $275,000 bridge loan (1st Trust Deed) to purchase a 2BR/2BA, 1,300 sq.ft. non-owner occupied single family residence.  The purchase price was $305,000 with the borrower putting down 25% cash ($77,000) to close. The house was dated and needed remodeling.  The initial disbursement by The Loan Company was $228,000 with a $47,000 holdback to be disbursed to the borrower subsequent to the completion of the improvements. [...]
Tue, Dec 04, 2012 4:16:00 PM, Continue reading [...]
Bonita, CA. The Loan Company of San Diego financed a $300,000 bridge loan (1st Trust Deed) to purchase a 4BR/2BA (3 car garage), 2,043 sq.ft. non-owner occupied single family residence.  The purchase price was $340,000 with the borrower putting down 25% cash ($85,000) to close. The house was dated and needed remodeling.  The initial disbursement by The Loan Company was $255,000 with a $45,000 holdback to be disbursed to the borrower subsequent to the completion [...]
Wed, Nov 21, 2012 4:18:00 PM, Continue reading [...]
Santee, CA. The Loan Company of San Diego provided a $400,000 (1st Trust Deed) loan refinance cash out for an owner occupied, 18,045 sq.ft. industrial/office building on a 1.32 acres in Santee.  The business was well established and in need some working capital.  The market value for the property was conservatively at $1,300,000 or 31% LTV.  The Loan Company provided the borrower an excellent term loan and the liquidity the borrower needed on short notice. [...]
Mon, Nov 19, 2012 4:24:00 PM, Continue reading [...]
  Escondido, CA.  The Loan  Company of San Diego provided the  borrower a loan commitment of $225,000 with an initial disbursement of $200,000  (or 74% of purchase price) bridge loan (1st Trust Deed) to purchase  a 2,245  sq.ft. single family residence non-owner  occupied investment property on a 7,450 sq.ft. lot for $269,000 (Short Sale).  The house is in need of some remodel with a  budget of $25,000 to complete for a total cost of $294,000.  The borrower [...]
Wed, Nov 07, 2012 5:06:00 PM, Continue reading [...]
Chula Vista, CA. The Loan Company of San Diego financed a $200,000 bridge loan (1st Trust Deed) to purchase a non-owner occupied single family residence 2BR/1BA in old Chula Vista.  The purchase price was $245,000 and the borrower was going to add a 3rd bedroom with a budget of $18,000 for a total cost of $263,000 or 76% LTC.  The borrower provided 25% cash down to close.  The initial disbursement by The Loan Company was $182,000 [...]
Sat, Nov 03, 2012 4:25:00 PM, Continue reading [...]
San Diego, CA.  The Loan Company of San Diego provided a $580,000 loan secured by a 1st  Trust Deed to purchase a 13 unit apartment (eleven -2BR/1BA units – one-3BR/1BA  unit and one unpermitted studio unit). The purchase price was $830,000 or 70%  LTC.  The units were 100% leased and the  project adequately services the debt.  The  borrower plans to do some minor cosmetic improvements and resell the project as  the exit strategy.  An appraisal [...]
Fri, Nov 02, 2012 5:10:00 PM, Continue reading [...]
San Diego, CA.  The Loan  Company of San Diego financed a $420,000 bridge loan (1st Trust  Deed) to purchase a non-owner occupied single family residence 3BR/1.5BA on a  large ¾ + acre lot in North Park overlooking the golf course in Balboa Park.  The purchase price was $557,000 and the house  was in need of some remodel with a budget of $35,000 for a total cost of $592,000  or 71% LTC.  The borrower provided 25% [...]
Wed, Oct 31, 2012 5:12:00 PM, Continue reading [...]
San Diego, CA,  The Loan Company of San Diego provided a $300,000 line of credit for the borrower to purchase distressed properties to rehab and sell.  The initial disbursement was for a $220,000 bridge loan (1st Trust Deed) allowing the borrower to purchase a 1,320 sq.ft. single family residence, non-owner occupied investment property on a 6,600 sq.ft. lot for $220,000 or essentially 100% of the purchase price.  However, the subject loan was also cross collateralized (1st [...]
Wed, Jun 20, 2012 6:14:00 PM, Continue reading [...]
Fallbrook, CA, The Loan Company of San Diego provided a $230,000 loan commitment secured by a 1st Trust Deed with an initial disbursement of $200,000 (or 75% of purchase price) to purchase a 3BR/2BA, three car garage, single family residence non-owner occupied investment property for $265,000 on 1.03 acres.  The house is in need of a remodel with a budget of $21,000 to complete for a total cost of $286,000.  The borrower provided 25% down to close [...]
Wed, Jun 20, 2012 6:11:00 PM, Continue reading [...]
Spring Valley, CA, The Loan Company of San Diego provided the borrower a loan commitment of $225,000 with an initial disbursement of $180,000 (78% of purchase price) bridge loan (1st Trust Deed) to purchase a 4BR/2.5BA, 2,427 sq.ft. single family residence non-owner occupied investment property on a 20,473 sq.ft. lot for $230,000 (Short Sale).  The house is in need of a remodel with a budget of $56,000 to complete for a total cost of $286,000.  The [...]
Thu, Jun 14, 2012 6:18:00 PM, Continue reading [...]
El Cajon, CA,  The Loan Company of San Diego provided a $520,000 bridge loan (1st Trust Deed) allowing the borrower to purchase a single family residence non-owner occupied investment property on 3.26 acres with several out buildings including a barn and stable for horses for $640,000.  The borrower plans to subdivide the property into 21 residential lots and obtain a tentative map (TM). The property with a TM is conservatively valued at $1,050,000. The exit strategy [...]
Thu, Jun 14, 2012 6:16:00 PM, Continue reading [...]
San Diego, CA, The Loan Company of San Diego provided a $500,000 line of credit (1st Trust Deeds) allowing the borrower to purchase and sell multiple properties within an 18 month period.  The first disbursement was for the purchase of two single family residences non-owner occupied investment properties. The loan included undisbursed funds for a complete remodel of both houses.  Both properties were short sales with a combined LTV ratio of 57%. The borrower will complete [...]
Tue, Jun 12, 2012 6:21:00 PM, Continue reading [...]
Encinitas, CA, The Loan Company of San Diego provided the borrower a loan commitment of $430,000 with an initial disbursement of $385,000 (75% of purchase price) bridge loan (1st Trust Deed) to purchase a 4BR/2.5BA, 2,155 sq.ft. single family residence non-owner occupied investment property on a 10,454 sq.ft. lot for $514,500 (Short Sale).  The house is in need of a remodel with a budget of $52,000 to complete for a total cost of $566,500.  The borrower provided [...]
Tue, Jun 12, 2012 6:19:00 PM, Continue reading [...]
 San Diego, CA.  The Loan Company of San Diego provided a $250,000 loan commitment secured by a 1st Trust Deed to purchase an eight unit apartment.  The property consisted of eight – 1BR/1BA units on a large 9,374 sq.ft. lot. The purchase price was $651,000 or 38% of purchase price. The property was in fair condition.  The existing net cash flow easily services the debt.  The Loan Company provided the borrower an excellent term loan with [...]
Thu, May 31, 2012 6:25:00 PM, Continue reading [...]
San Diego, CA.  The Loan Company of San Diego provided a $525,000 term loan (1st Trust Deed) secured by a non-owner occupied residential property (4BR/2.5BA) in Point Loma overlooking the bay.  The subject loan allowed the borrower to refinance a formerly distressed property that was recently remodeled with an appraised value of $1,440,000 or 38% LTV ratio. Cash flow from the property services the debt.  Borrower plans to hold the property long term as an [...]
Tue, May 29, 2012 6:28:00 PM, Continue reading [...]
El Cajon, CA.  The Loan Company of San Diego provided a $200,000 (1st Trust Deed) purchase loan for a mixed-use partially owner-occupied property.  The improvements consist of a detached single family residence rental and multiple auto repair garages. The SFR and one of the garages is rented and the others are owner occupied.  The purchase price was $300,000 or 67% of the purchase price.   The tax assessed value was $426,000.  The Loan Company provided the borrower [...]
Tue, May 29, 2012 6:27:00 PM, Continue reading [...]
 Cardiff, CA.  The Loan Company of San Diego funded a $308,000 bridge loan (1st Trust Deed) to purchase a 1,200 sq.ft. 3BR/2BA, single family residence non-owner occupied investment property on a 6,700 sq.ft. lot for $385,000 (Distressed sale out of probate).  The house was in need of a remodel with a budget of $40,000 to complete for a total cost of $425,000.  The borrower provided 20% cash down to close with $40,000 in remodeling costs for [...]
Mon, May 14, 2012 6:31:00 PM, Continue reading [...]
Oceanside, CA.  The Loan Company of San Diego funded a $141,000 bridge loan (1st Trust Deed) to purchase a 1,150 sq.ft. 2+BR/2BA,  single family residence non-owner occupied investment property on a 6,700 sq.ft. lot for $188,000 (Distressed sale).  The house was in need of a remodel with a budget of $30,000 to complete for a total cost of $218,000 or 65% LTC.  The borrower provided 25% cash down to close with $30,000 in remodeling costs for [...]
Mon, May 14, 2012 6:29:00 PM, Continue reading [...]
Fallbrook/San Marcos, CA.  The Loan Company of San Diego provided a $285,000 loan commitment (1st Trust Deed) refinance on a small commercial investment property in the business district of Fallbrook also secured by a 2nd Trust Deed on a office/warehouse owner-occupied building in San Marcos. The borrower was looking to pull out some cash for other investment opportunities.  A conservative overall LTV ratio of both properties including all debt was 67%. The Loan Company provided [...]
Sun, May 13, 2012 6:33:00 PM, Continue reading [...]
San Diego, CA.  The Loan Company of San Diego provided the borrower a loan commitment of $158,000 with an initial disbursement of $138,000 (or 75% of purchase price) bridge loan (1st Trust Deed) to purchase a 1,485 sq.ft. single family residence non-owner occupied investment property on a 5,700 sq.ft. lot for $183,000 (Short Sale).  The house is in need of a remodel with a budget of $30,000 to complete for a total cost of $213,000.  The [...]
Tue, May 08, 2012 6:32:00 PM, Continue reading [...]
Santee, CA, May 1, 2011.  The Loan Company of San Diego provided a $350,000 loan commitment (1st Trust Deed) secured by two industrial land parcels totaling about 1.5 acres.  The loan is also secured by a 2nd Trust Deed on two liquor/convenience stores and some excess land.  The loan was well secured with less than 30% combined LTV ratio. The cash out was used for other investment opportunities.  Cash flow generated from the property easily supports [...]
Tue, May 01, 2012 6:35:00 PM, Continue reading [...]
Lemon Grove, CA.  The Loan Company of San Diego provided a $160,000 loan commitment (1st Trust Deed) allowing the borrower to refinance a 4BR/2BA single family residence non-owner occupied investment property. The borrower originally purchased the distressed property all cash $175,000 and turned around and refinanced the property with an initial loan disbursement of $132,000 and a $28,000 holdback for remodel for a total loan commitment of $160,000 or 58% LTV.  The borrower remodel budget was [...]
Sat, Apr 28, 2012 6:40:00 PM, Continue reading [...]
 Escondido, CA.  The Loan Company of San Diego provided a $1,290,000 bridge loan (1st Trust Deed) for the borrower to purchase an owner occupied Mobil gas station/C-store/auto repair property. The Loan Company financed essentially 100% of the purchase price for the real estate.  In lieu of cash down, the borrower allowed three other free and clear properties to be cross collateralized 1st Trust Deeds resulting in less than a 50% combined LTV ratio. The borrower plans [...]
Sat, Apr 28, 2012 6:38:00 PM, Continue reading [...]
 San Diego, CA. The Loan Company of San Diego provided a $375,000 bridge loan (1st Trust Deed) allowing the borrower to purchase a 1,364 sq.ft. single family residence, non-owner occupied investment property on a 6,400 sq.ft. lot located in North Park for $500,000 or 75% of the purchase price. The house is in need of a complete remodel with the total cost of the improvements at approximately $100K.  The borrower will complete the full remodel and sell [...]
Thu, Apr 26, 2012 6:39:00 PM, Continue reading [...]
Poway, CA.  The Loan Company of San Diego provided a $285,000 (1st Trust Deed) loan to refinance an existing loan (no cash out) in order pay off a maturing loan and lower the interest rate. The loan is secured by a 2,456 sq.ft. multi-tenant office/RV storage on an 18,295 sq.ft. parcel.  The property was appraised at a 60% LTV ratio.  The Loan Company provided the borrower an excellent term loan with a competitive private money rate. [...]
Tue, Apr 10, 2012 6:42:00 PM, Continue reading [...]
San Diego, CA.  The Loan Company of San Diego provided a $375,000 loan commitment (1st Trust Deed) on three single family residential non-owner occupied investment properties. The borrower originally purchased the three distressed properties all cash and was in the process of completely remodeling the houses for resale. Until the houses are sold, the borrower wanted to utilize a portion of the equity in the houses for other investment opportunities. The Loan Company provided a short [...]
Wed, Mar 28, 2012 6:48:00 PM, Continue reading [...]
  San Diego, CA.  The Loan Company of San Diego provided a $150,000 bridge loan (1st Trust Deed) allowing the borrower to purchase a 3 unit apartment at a purchase price of $295,000 or 50% LTV. However, what was unique about this transaction was the purchase of the 3 units required all cash no debt, so the borrower temporarily pledged two other properties as collateral for The Loan Company to secure the $150,000 allowing the borrower [...]
Wed, Mar 28, 2012 6:45:00 PM, Continue reading [...]
 El Cajon, CA, March 27, 2012.  The Loan Company of San Diego provided a $330,000 (1st Trust Deed) purchase loan for a well established owner-occupied business relocating in the same vicinity.  The purchase price was $490,000.  The loan is secured by 2,300 sq.ft. (two tenant) commercial building on a 10,000 sq.ft. lot.  The Loan Company was able to expedite the loan process in order for the borrower to consummate the purchase. The property was appraised at a [...]
Tue, Mar 27, 2012 6:50:00 PM, Continue reading [...]
  San Diego, CA, March 14, 2012.  The Loan Company of San Diego provided a $240,000 loan commitment secured by a 1st Trust Deed to purchase a four unit apartment.  The property consisted of two – 2BR/1BA units, one -3BR/1BA unit and 1BR/1BA unit on a large 10,000 sq.ft. lot. The purchase price was $285,500. The property was in need of remodeling with an estimated improvement budget of $30,000, which the borrower will fund subsequent to the purchase. [...]
Wed, Mar 14, 2012 6:51:00 PM, Continue reading [...]
 Escondido, CA.  The Loan Company of San Diego provided a $130,000 loan commitment (1st Trust Deed) allowing the borrower to refinance a 3BR/3BA single family residence non-owner occupied investment property in a PUD. The borrower originally purchased the distressed property all cash and completely remodeled the house for resale. While the house was waiting to sell the borrower wanted to utilize the equity in the house for another investment opportunity, so The Loan Company provided a [...]
Mon, Feb 06, 2012 6:53:00 PM, Continue reading [...]
San Diego, CA.  The Loan Company of San Diego provided a $230,000 loan commitment secured by a 1st Trust Deed on three single family residences (non-owner occupied) on one lot.  Purchase price was $265,000 for all three houses.  One of the houses was in need of extensive remodeling with an estimated total budget of $50,000. The Loan Company’s initial loan disbursement was 75% of the purchase price or $200,000 with a $30,000 holdback for a [...]
Mon, Jan 30, 2012 6:56:00 PM, Continue reading [...]
San Diego, CA.  The Loan Company of San Diego provided a $230,000 loan commitment secured by a 1st Trust Deed on three single family residences (non-owner occupied) on one lot.  Purchase price was $265,000 for all three houses.  One of the houses was in need of extensive remodeling with an estimated total budget of $50,000. The Loan Company’s initial loan disbursement was 75% of the purchase price or $200,000 with a $30,000 holdback for a [...]
Mon, Jan 30, 2012 6:54:00 PM, Continue reading [...]
 San Diego, CA.  The Loan Company of San Diego provided a $600,000 loan commitment secured by a 1st Trust Deed to purchase a six unit apartment in the North Park area of San Diego.  The property consisted of four – 3BR/2BA units and two – 2BR/2BA units with six single car garages. The purchase price was $820,000. The property was in need of remodeling with an estimated improvement budget of $100,000, which the borrower will fund [...]
Wed, Jan 11, 2012 6:57:00 PM, Continue reading [...]