Owner-Occupied Bridge Loan in San Jose
Pacific Private Money recently funded a $575,000, 57.503% LTV on an owner occupied bridge loan in San Jose. Due to a complicated income situation and the need for speed, conventional financing was not an option for the borrower. However, Pacific Private Money recognized multiple strengths of the transaction, including; strong LTV, good reserves, and great…
Another successful close on a transaction that did not qualify for conventional lending!
Pacific Private Money recently funded a $575,000, 48% LTV on a Cash-Out Refinance to build in Occidental.The borrower is an LLC whose members include a licensed general contractor with multiple development projects spanning a 40-year career, along with a 25-year real estate broker with experience in commercial and residential real estate development projects. The LLC…
We just closed an Owner-Occupied Bridge Loan in Concord!
Pacific Private Money just closed a $224,000, 70% LTV, owner-occupied bridge loan in Concord. The borrower has good earnings capability, limited debt and about $180,000 in the bank. He is using the loan proceeds to purchase the property. …He is coming in with 30% down plus closing costs (approx. $117,000). The borrower has 18 years…
Pacific Private Money offers alternative financing… If the deal makes sense, we can fund it!
Pacific Private Money recently funded a $825,000, 69.162% LTV, fix & flip in Livermore. The borrowers are experienced real estate investors who own multiple other properties. They have good credit (650 & 693 mid FICO scores) and a strong …monthly income. Their credit was hurt with a foreclosure, but they have brought all accounts current….
Owner Occupied Bridge Loan, Closed in 2 days!
Pacific Private Money just closed a $500,000, 69% LTV, on an 11 month owner occupied bridge loan in Petaluma. The borrower was originally approved for conventional lending, but upon attempting to close, his financing was denied due to a minor financing issue. Pacific Private Money was able to fund this transaction through the Pacific Private…
Another Successful Transaction Closed!
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…
Another speedy close for Pacific Private Money on a transaction that did not qualify for conventional lending!
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…
Pacific Private Money Just Closed a Purchase Loan in Newark
Pacific Private Money recently funded a $404,000, 75% LTV, purchase on a 4 bedroom SFR located in a neighborhood of Newark with a very strong demand. The borrower has good credit (Mid-Fico 658) and a strong annual income with over 400K in liquid reserves. The kitchen has been gutted and is incomplete, making this…
Pacific Private Money Just Funded…
Pacific Private Money provided a quick and painless $225,000 loan to help purchase a rental property in the outer Sunset neighborhood of San Francisco. The borrower had great credit (Fico mid-score of 779) and strong liquid assets, but his income could not be verified conventionally and timing was of the essence. Due to those factors,…
Pacific Private Money Recently Funded…
Pacific Private Money recently funded a $100,000, 41% LTV, cash-out refinance on this cute home in Manteca. The borrowers are repeat clients. The property is a 4 bedroom / 2 bath home leased at $1,200 per month, providing a 1.20 debt coverage ratio. The borrowers needed the funds for capital infusion for their auto business. …