Featured Loan3-Year Hard Money Rental Loan in San Pedro
Loan Amount: $250,000
Loan-To-Value: 50% LTV
Situation & Challenge
During the first month of COVID-19, this 50% LTV loan on a rental property in San Pedro needed to close. With normal conditions, this would have been an easy loan to close within a 1-2 weeks. However, COVID-19 presented additional circumstances that had to be worked around, including slower turn times with title, escrow, notaries, etc.
Solution & Result
First Capital Trust Deeds funded the loan one week longer than loans would normally fund. We placed the loan with a trust deed investor that we had funded several of FCTD’s loans with over the years. The investor liked subject property, the low leverage at 50% LTV, and the 36-month term with a 9-month interest guarantee.