Orange County Owner Occupied Private Money Financing

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Orange County Owner Occupied Private Money Financing

A home buyer used an Orange County owner occupied private money financing loan from First Capital Trust Deeds to close the escrow on-time.

With the mortgage market still dominated by Fannie Mae, Freddie Mac, and FHA, some home buyers run into problems qualifying for financing even when they have a very large 73% down payment. As was the case with our Orange County owner occupied private money financing client who had a large down payment, but couldn’t obtain a conventional loan for another eight months due to a previous short sale.

Therefore, the short-term solution was a 20-year interest-only loan from a Southern California trust deed investment firm, which would hold the borrower over until they could refinance into a conventional mortgage for either 15 or 30 years.  In the meantime, the private money loan got the job done and fulfilled the need of closing escrow on-time.

Owner Occupied Private Money Terms:

  • $170,000 Loan Amount (27% LTV)
  • 9.50% Interest-Only
  • $1,345/Month Payment
  • 20-Year Term
  • No Prepayment Penalty
Do you have a similar financing scenario?
Inquire about your financing options with FCTD.