First Capital Trust Deeds of secured a California Inland Empire private money rental property loan that covered three homes under one loan. The owner had acquired these formerly distressed properties at a significant discount over the past few years and wanted to secure long-term financing at a lower interest rate.
We were able to lock in a 5-Year fixed rate private money loan at 8.00% interest-only. The underwriting requirements were pretty limited, based mostly on appraised value and cash flow of the properties.
Private Money Blanket Loan Terms:
- $300,000 Loan Amount – 62.50% Loan-To-Value (LTV)
- 8.00% Interest-Only
- $2,000/Month Payment
- 60-Month Term
- Sliding Scale Prepayment Penalty During First 3 Years