2013 Closed Loans

San Diego, Ca. The borrower entered escrow to purchase an 8 unit apartment that had extensive deferred maintenance along with a required quick close. The Loan Company was able to approve the loan quickly and provide the financing needed in time to meet the deadline. The Loan Company of San Diego provided a $740,000 bridge loan commitment (1st Trust Deed) to purchase eight apartment units located in the Normal Heights community of San Diego. The [...]
Wed, Jan 15, 2014 10:30:00 PM, Continue reading [...]
San Diego, CA.  A repeat Loan Company borrower entered escrow to purchase two separate, non-adjacent, apartments on two separate parcels in one purchase – one 3-unit (2BR/1BA) and one 4-unit (2BR/1BA) for a total of 7 units with a total price of $800,000. The Loan Company was able to move fast and provide the financing needed in time to meet the borrower’s deadline. The Loan Company of San Diego provided a $600,000 term loan (1st [...]
Tue, Nov 19, 2013 9:02:00 PM, Continue reading [...]
San Diego, CA.  The borrower was in escrow to purchase an investment property on a quick close. The Loan Company was able to move fast and provide the financing needed in time to meet the borrower’s deadline. The Loan Company provided a $205,000 bridge loan commitment (1st Trust Deed) to purchase two detached single family non-owner occupied residences on one lot. The Loan Company provided an initial disbursement of $131,000 (75% LTC) at a purchase [...]
Thu, Nov 07, 2013 9:04:00 PM, Continue reading [...]
Mission Beach, CA.  The Loan Company provided the borrower a term loan to refinance a residential duplex (vacation rentals) completely remodeled a block from Mission Beach. The Loan Company of San Diego provided a $700,000 loan no cash out secured by a 1st Trust Deed on a 3BR/2.BA lower unit and 1BR/1BA upper unit. The appraised value was $1,170,000 or 59% Loan to Value ratio. [...]
Mon, Oct 28, 2013 5:03:00 PM, Continue reading [...]
San Diego, CA.  A repeat borrower entered escrow to purchase three apartment units (two separate buildings) on a quick close. The Loan Company was able to move fast and provide the financing needed in time to meet the borrower’s deadline. The Loan Company of San Diego provided a $255,000 bridge loan (1st Trust Deed) to purchase the three apartment units –  two (2BA/1BA) units in one building and one (2BR/1BA) unit in a separate building. [...]
Fri, Oct 25, 2013 6:45:00 PM, Continue reading [...]
San Diego, CA.  A buyer entered escrow to purchase a multi-family residential property on a quick close and The Loan Company was able to move fast and provide the financing needed in time to meet the borrower’s deadline. The Loan Company of San Diego provided a $527,000 bridge loan commitment (1st Trust Deed) to purchase the units located in the Normal Heights Community of San Diego. The purchase price was $490,000 with the borrower putting [...]
Fri, Oct 04, 2013 5:02:00 PM, Continue reading [...]
La Mesa, CA.  An investment group entered escrow to purchase an 8-plex apartment on a quick close and The Loan Company was able to move fast and provide the financing needed in time to meet the borrower’s deadline. The Loan Company of San Diego provided an $850,000 bridge loan (1st Trust Deed) to purchase eight apartment units (2BA/1BA). The purchase price was $1,200,000 or 71% loan to purchase price with the borrower putting down $350,000 [...]
Fri, Sep 20, 2013 4:11:00 PM, Continue reading [...]
San Diego, CA, The borrower was in a short sale escrow to purchase an investment property on a quick close and The Loan Company was able to move fast and provide the financing needed in time to meet the deadline. The Loan Company of San Diego provided a $205,000 bridge loan (1st Trust Deed) to purchase one single family non-owner occupied house. The Loan Company provided an initial disbursement of $175,000 (75% LTC) at a purchase [...]
Mon, Sep 16, 2013 4:05:00 PM, Continue reading [...]
San Diego, CA, The borrower purchased a 3BR/32BA single family residence non-owner occupied investment property for $286,000 all cash and immediately turned around and wanted to refinance pulling cash out for other investment opportunities. The Loan Company of San Diego provided a $255,000 refinance loan (initial disbursement was $215,000 (75% of the purchase price) with a $40,000 holdback for remodel) secured by a 1st Trust Deed. The borrower plans to do a complete remodel at a [...]
Fri, Aug 16, 2013 1:00:00 PM, Continue reading [...]
Point Loma, CA,  The borrower did not want to go through the brain damage of getting a conventional loan with an institutional lender at the time of acquisition and instead elected to go through The Loan Company resulting in a simple, quick and easy loan process.  The loan was to purchase five residential units that consisted of three detached buildings: one house with two 1BR/1BA units, a duplex with two 2BR/1BA units and one 2BR/1BA house [...]
Mon, Aug 05, 2013 12:56:00 PM, Continue reading [...]
San Diego, CA, A repeat borrower entered escrow to purchase a 4-plex apartment on a quick close and The Loan Company was able to move fast and provide the financing needed in time to meet the borrower’s deadline. The Loan Company of San Diego provided a $367,500 bridge loan (1st Trust Deed) to purchase four apartment units (2BA/1BA) in two separate buildings on a large lot with alley parking and access. The purchase price was $450,000 [...]
Fri, Jul 26, 2013 3:56:00 PM, Continue reading [...]
Escondido, CA, The borrower was looking for a Lender that could close quickly and allow secondary financing on the acquisition of a residential triplex (3 – 2BR/1.5BA) attached units. The units were in good condition each with their own single car garage with an entrance from the alley.  The Loan Company of San Diego provided a $319,500 bridge loan secured by a 1st Trust Deed. The purchase price was $450,000 (71% loan to purchase price).  The [...]
Sat, Jul 06, 2013 4:00:00 PM, Continue reading [...]
Escondido, CA. The borrower wanted a hassle free long term  loan to purchase a small single family residence non-owner occupied investment  property and did not want to go through aggravation of the conventional loan  process; so The Loan Company provided a competitively priced long term loan  making it a quick, simple and smooth process from application to closing. The  Loan Company provided a $100,000 purchase loan secured by a 1st  Trust Deed. The purchase price [...]
Fri, Jun 28, 2013 3:05:00 PM, Continue reading [...]
Ramona, CA. The borrower entered escrow to purchase an  investment property on a quick close and The Loan Company was able to move fast  and provide the financing needed in time to meet the deadline. The Loan Company  of San Diego provided a $190,000 bridge loan (1st Trust Deed) to purchase  one single family non-owner occupied house on almost an acre of property zoned  for horses. The Loan Company provided an initial disbursement of $180,000 [...]
Thu, Jun 27, 2013 3:03:00 PM, Continue reading [...]
San Diego, CA, The borrower needed to close a purchase money loan in 10 days or less and The Loan Company of San Diego was able to arrange the financing to meet the deadline. The loan was a $573,750 bridge loan (1st Trust Deed) to purchase a 3BR/2BA non-owner occupied single family residence with a 1BR/1BA detached guest house in the rear of the property on a large lot in Pacific Beach.  The purchase price was [...]
Thu, May 23, 2013 3:12:00 PM, Continue reading [...]
San Diego, CA, The borrower entered a 10 day escrow to purchase a 7BR/3.5BA single family residence non-owner occupied investment property and needed a lender to perform quick with no hassle. The Loan Company of San Diego provided a $210,000 purchase loan secured by a 1st Trust Deed in time to close escrow. The purchase price was $310,000 (68% loan to purchase price) with the borrower putting $100,000 cash down. There is approximately $25,000 in remodeling [...]
Mon, May 06, 2013 3:10:00 PM, Continue reading [...]
Imperial Beach, CA, May 3, 2013.  The Loan Company of San Diego funded a $1,243,000 permanent loan (1st Trust Deed) to refinance a 16 room (32 bed) assisted living facility in Imperial Beach.  The existing loan had matured and the borrower was pressed to refinance the existing debt as well as bring the property taxes current.  An appraisal was completed on the subject property and concluded an “as is” market value of $2,590,000 (real estate & [...]
Fri, May 03, 2013 3:07:00 PM, Continue reading [...]
San Diego, CA. The borrower had a short sale that finally  was approved and needed to close fast.   The Loan Company was able to immediately commit to the loan and meet the  closing deadline. The Loan Company of San Diego financed a $265,000 bridge loan  (1st Trust Deed) to purchase a 3BR/2BA non-owner occupied single  family residence in the Serra Mesa Community.   The purchase price was $310,000 with the borrower putting down 25% cash  ($77,500) [...]
Sun, Apr 28, 2013 3:31:00 PM, Continue reading [...]
San Diego, CA.  The borrower needed a short term loan in less  than 10 days in order to purchase the property. The Loan Company immediately  responded to assist the borrower in providing a $450,000 short term loan (1st  Trust Deed) secured by one detached single family investment property and an adjacent  vacant, buildable, canyon lot located in the Normal Heights area. The purchase  price was $600,000 (both house and lot) or 75% loan to cost.  [...]
Wed, Apr 24, 2013 3:28:00 PM, Continue reading [...]
San Diego, CA,  The borrower entered escrow to purchase an  investment property on a quick close and The Loan Company was able to move fast  and provide the financing needed in time to meet the deadline. The Loan Company  of San Diego provided a $280,000 bridge loan (1st Trust Deed) to  purchase two single family houses and a detached two car garage with a 1BR unit  apartment on top all on one parcel. The purchase [...]
Mon, Apr 15, 2013 3:35:00 PM, Continue reading [...]
 Pacific Beach, CA.  The Loan Company provided  the borrower on short notice a term loan for the purchase of a residential  duplex (vacation rentals) a block from Mission Beach. The Loan Company of San  Diego provided a $700,000 purchase loan secured by a 1st Trust Deed on  two 3BR/2BA attached units with three parking spaces. The purchase price was  $1,100,000 (64% loan to purchase price) with the borrower putting $400,000 cash  down plus the borrower [...]
Wed, Apr 10, 2013 3:37:00 PM, Continue reading [...]
Vista, CA, March 25, 2013.  The borrower needed a bridge  loan in order to quickly close on a $2,100,000 purchase of a Mobil gas  station/C-store and car wash. The Loan Company of San Diego provided a $1,365,000  initial disbursement (1st Trust Deed) or 65% LTC with a $400,000 hold back for  the remodel of the car wash.  The future  disbursement of the hold back is subject to receiving an acceptable appraisal  that would support [...]
Mon, Mar 25, 2013 11:44:00 PM, Continue reading [...]
San  Diego, CA. The Loan Company provided the borrower on  short notice immediate liquidity with a cash out loan on a free and clear  property. The Loan Company of San Diego provided a $195,000 refinance loan secured  by a 1st Trust Deed on a completely remodeled, free and clear, 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 [...]
Sun, Mar 17, 2013 3:02:00 AM, Continue reading [...]
Escondido, CA. The borrower needed additional liquidity fast  to close another real estate transaction and could not wait for the subject  house to sell. The Loan Company immediately responded to assist the borrower in  funding a cash out refinance in a total of 5 days.  The Loan Company of San Diego provided a $170,000  short term loan (1st Trust Deed) on a detached single family  investment property that was owned free and clear.  The house [...]
Wed, Mar 13, 2013 2:59:00 AM, Continue reading [...]
National City, CA. The Loan Company of San Diego financed a $163,200  bridge loan (1st Trust Deed) to purchase a 3BR/1BA non-owner occupied  single family residence with a two car garage (Short Sale).  The purchase price was $204,000 with the  borrower putting down 26% cash ($54,000) to close. The house was dated and  needed remodeling.  The borrower’s approximate  remodel budget was $15,000 for a total cost of $219,000.  The Loan Company’s initial disbursement was  $150,000 [...]
Thu, Mar 07, 2013 2:57:00 AM, Continue reading [...]
 El Cajon, CA, The Loan Company of San Diego provided a $210,000  term loan (1st Trust Deed) to purchase one detached single family  investment property (2BR/1BA) and a duplex (2 – 1BR/1BA units) on one lot, a  total of 3 units.  The purchase price  (Short Sale) was $285,000 or 74% LTC. The income approach to value was estimated  at $312,000 or 60% LTV. The net cash flow easily services the debt. The Loan  Company provided [...]
Wed, Mar 06, 2013 2:54:00 AM, Continue reading [...]
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Imperial Beach, CA.  Borrower didn’t have time to wait for conventional financing to purchase two separate income properties in beach area and The Loan Company quickly responded to assist in funding a bridge loan in a matter of days from the request. The Loan Company of San Diego provided a $450,000 bridge loan (1st Trust Deed) to purchase two separate residential income properties adjacent each other in Imperial Beach. The first property included [...]
Wed, Feb 20, 2013 5:55:00 PM, Continue reading [...]
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Vista, CA. The Loan Company of San Diego financed a $200,000 bridge loan (1st Trust Deed) to purchase a 3BR/2BA non-owner occupied single family residence with a metal workshop and other outbuildings (short Sale).  The purchase price was $250,000 with the borrower putting down 25% cash ($62,500) to close. The house was dated and needed remodeling.  The borrower’s approximate remodel budget was $35,000 for a total cost of $285,000.  The Loan Company’s initial disbursement was [...]
Tue, Feb 19, 2013 5:59:00 PM, Continue reading [...]
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Lakeside, CA.  The Loan Company of San Diego financed a $212,000 bridge loan (1st Trust Deed) to purchase a 3BR/4BA non-owner occupied single family residence with a pool on over a half acre view lot. (short Sale).  The purchase price was $260,000 with the borrower putting down 20% cash ($52,000) to close. The borrower’s approximate remodel budget was $35,000 for a total cost of $301,000.  The borrower contributed 100% of the improvement costs.  The sale [...]
Wed, Feb 13, 2013 6:06:00 PM, Continue reading [...]
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  San Diego, CA.  The Loan Company of San Diego financed a $360,000 bridge loan (1st Trust Deed) to purchase a 4BR/2BA non-owner occupied single family residence with a pool.  The purchase price was $450,000 with the borrower putting down 20% cash ($90,000) to close. The house was dated and needed remodeling.  The borrower’s rehab budget is approximately $65 for a total cost of $515,000.  The sale comps support a value upon completion of improvements in [...]
Mon, Feb 04, 2013 5:44:00 PM, Continue reading [...]
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San Diego, CA, The Loan Company of San Diego financed a $300,000 bridge loan (1st Trust Deed) to purchase a 3BR/2BA non-owner occupied single family residence.  The purchase price was $375,000 with the borrower putting down 20% cash ($75,000) to close. The house was dated and needed complete remodeling.  The borrower’s rehab budget is approximately $150,000 that will include a complete remodel plus the addition of another bedroom and bath for a total cost of [...]
Wed, Jan 30, 2013 7:58:00 PM, Continue reading [...]
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Alpine, CA, The Loan Company of San Diego provided a $180,000 term loan (1st Trust Deed) to purchase two detached single family investment properties on one lot.  They include two 2BR/1BA detached houses that will be used as rental properties.  The borrower purchased the property in 2012 distressed and totally remodeled the units at a total cost of $250,000.  The estimated market value of the property is $315,000 or 67% LTV ratio. The Loan Company provided [...]
Fri, Jan 25, 2013 7:41:00 PM, Continue reading [...]
Spring Valley, CA,  The Loan Company of San Diego financed a $118,400 bridge loan (1st Trust Deed) to purchase a 3BR/2BA non-owner occupied single family residence.  The purchase price was $148,000 with the borrower putting down 20% cash ($29,600) to close. The house was dated and needed remodeling.  The borrower will be remodeling house at approximate cost of $40,000 for a total cost of $188,000.  The sale comps support a value upon completion of improvements [...]
Thu, Jan 24, 2013 7:46:00 PM, Continue reading [...]
San Diego, CA, The Loan Company of San Diego provided the borrower a short term loan commitment of $372,500 that was secured (1st Trust Deed) by two separate properties with $172,500 allocated to a purchase property and $200,000 allocated to a cash out refinance.  One note secured by two properties. The 1st property had an initial disbursement of $127,500 bridge loan (1st Trust Deed) to purchase a 1,556 sq.ft. single family residence non-owner occupied investment property on [...]
Thu, Jan 17, 2013 7:00:00 PM, Continue reading [...]
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San Diego, CA, The Loan Company of San Diego provided a $350,000 bridge loan (1st Trust Deed) to purchase one detached single family investment property in Mission Hills.  It includes a 3BR/2BA craftsman house with a detached guest house and one car garage.  The borrower purchased the property for $615,000 or 57% LTC.  Plan is to redevelop the site into higher density housing.  The purchase price of $615,000 is concluded to be the best estimate of [...]
Sun, Jan 13, 2013 8:03:00 PM, Continue reading [...]
Murrieta, CA,  The Loan Company of San Diego provided a $165,000 loan commitment secured by a 1st Trust Deed with an initial disbursement of $135,000 (or 76% of purchase price) to purchase a 4BR/2.5BA, two car garage, single family residence non-owner occupied investment property for $177,000.  The house is in need of a remodel with a budget of $30,000 to complete for a total cost of $207,000.  The borrower provided 24% down to close with [...]
Thu, Jan 10, 2013 8:19:00 PM, Continue reading [...]
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San Diego, CA, The Loan Company of San Diego financed a $185,000 bridge loan (1st Trust Deed) to purchase a 3BR/2BA non-owner occupied single family residence.  The purchase price was $220,000 with the borrower putting down 25% cash ($55,000) to close. The house was dated and needed some remodeling.  The initial disbursement by The Loan Company was $165,000 with a $20,000 holdback to be disbursed to the borrower subsequent to the completion of the improvements. The [...]
Wed, Jan 02, 2013 11:18:00 PM, Continue reading [...]
  Encinitas, CA. The Loan Company of San Diego provided a $1,000,000 (1st Trust Deed) to refinance existing debt that was maturing.  The gas station/repair shop is a well established owner-occupied business and a newly branded Mobil station and considered a clean site.  The Loan Company was able to complete the refinance in time to pay off the maturing debt that was coming due.  The property was appraised at a 47% LTV ratio for real estate [...]
Wed, Jan 02, 2013 9:45:00 PM, Continue reading [...]
  San Diego, CA, The Loan Company of San Diego provided a $585,000 loan commitment secured by a 1st Trust Deed to refinance a mixed use residential/commercial building in Barrio Logan Community.  The subject property consisted of a 17 unit apartment and approximately 3,988 sq.ft. of commercial retail space.  The purpose of the subject loan was to refinance more expensive debt and provide additional funds to rehab the building, improve cash flow and increase the overall value of [...]
Thu, Jun 07, 2012 6:23:00 PM, Continue reading [...]
 Chula Vista, CA.  The Loan Company of San Diego provided a $150,000 loan secured by a 1st Trust Deed for the borrower to purchase a 1,152 sq.ft. single family residence non owner occupied investment property. The purchase price was (short sale) $201,000. The property was in need of slight remodeling with an estimated completion value $240,000 or 63% LTV ratio.   The projected net market rental income is sufficient to adequately service the debt.  The Loan Company [...]
Fri, Jun 01, 2012 6:24:00 PM, Continue reading [...]