Pacific Private Money just closed a $169,000, 65% LTV, on a purchase in Orangevale, a bedroom community near Sacramento.
The borrower has great credit (797 FICO Mid-Score), $222k liquid verified and came in with 35% down plus closing costs…. The property is in good condition in an area seeing rising values and rents. The borrower intends to purchase the property to hold for rental income.
The borrower did not qualify for conventional lending and timing was of the essence.
Pacific Private Money was able to fund this purchase and close within two weeks.