The long-time owners of a commercial building obtained a second trust deed in Alameda, California to make repairs and improvements to the property. First Capital Trust Deeds brokered the loan with a San Francisco based individual trust deed investor who had experience lending in the city of Alameda and was familiar with the subject property.
The second trust deed was for 12-months and went behind a low interest rate SBA loan, which had been in force for nearly eight years. The Combined Loan-To-Value (CLTV) was only 54%, so it made for a pretty safe junior lien from a trust deed investor perspective.
Second Trust Deed Terms:
- $100,000 Loan Amount (54% CLTV)
- 10.00% Interest-Only
- 12-Month Term