Pacific Private Money just closed a $167,500 68% LTV, on a purchase in the Cordelia Villages neighborhood of Fairfield.
The borrower is an experienced real estate investor with a 659 FICO Mid-Score. Fairfield is seeing rising values and limited inventory with rents sufficient to cover this debt. The borrower intends to purchase the property for a fix and flip. He came in with 32% down plus closing costs.
The borrower was unable to obtain conventional financing.
Pacific Private Money sourced private money and was able to close this transaction.