First Capital Trust Deeds of secured the 80% LTV hard money loan In Los Angeles for a seasoned house flipper buying a discounted short sale.
This loan was pretty straight forward. The buyer, or borrower in FCTD terms, had flipped over 30 homes in the past few years and found this home through their networking and marketing efforts. Our borrower negotiated a purchase price that was 15-20% below as-is value which left significant room for a substantial profit on the resale.
After waiting three months for the seller’s lender to approve the sale, FCTD and the Los Angeles based hard money lender issued loan documents and closed within a week.
80% LTV Hard Money Loan In Los Angeles Terms:
- $320,000 Loan Amount (80% loan-to-value)
- 11.00% Interest-Only
- 12-Month Term
- No Prepayment Penalty