Lien Position: 1st
Loan Amount: $330,000
Loan to Value: 61%
Term: 12 months with no prepayment penalty
Details: Source Capital Funding provided financing for a hard money purchase loan in Santa Rosa, California for this seasoned real estate investor borrower. The loan of $330,000 was secured by this condominium in a first trust deed lien position.
Lien Position: 2nd
Loan Amount: $150,000
Combined Loan to Value: 33%
Term: 12 months with no prepayment penalty
Details: Financing was provided quickly by Source Capital Funding for a hard money refinance loan in San Francisco, California. The borrower wanted to keep their low rate first mortgage and needed a second loan of $150,000 to update and remodel this investment property.
Lien Position: 1st
Loan Amount: $200,000
Loan to Value: 48%
Term: 24 months with no prepayment penalty
Details: A repeat client of ours needed financing for a hard money refinance loan in San Diego, California. They needed funds for their soccer business and a loan of $200,000 was secured by this condominium in a first trust deed lien position.
Lien Position: 1st
Loan Amount: $175,000
Loan to Value: 37%
Term: 12 months with no prepayment penalty
Details: Source Capital Funding was contacted by this borrower in need of a hard money refinance loan in Riverside, California. This investment property needed a fast remodel as the prior tenant had moved out and the owner wanted to make updates to command higher rent for the next prospective tenant.
Lien Position: 1st
Loan Amount: $375,000
Loan to Value: 55%
Term: 24 months with no prepayment penalty
Details: Source Capital Funding successfully completed its fifth transaction with this client on a hard money refinance loan in Santa Rosa, California. This property was owned free and clear and the borrower needed funds for their thriving dental practice to purchase new equipment for expansion.
Lien Position: 1st
Loan Amount: $425,000
Loan to Value: 33%
Term: 24 months with no prepayment penalty
Details: Source Capital Funding was approached by this client for a hard money refinance loan in Fresno, California. The existing structure on the property was to be demolished as the borrower received approval from the city to build a large-scale storage facility and needed funds to start the construction process.
Lien Position: 1st
Loan Amount: $600,000
Loan to Value: 51%
Term: 24 months with no prepayment penalty
Details: This hard money industrial blanket refinance loan in Riverside, California was provided by Source Capital Funding to a repeat client with an LLC. The borrowers owned two adjacent industrial condominiums and needed quick financing to expand their trucking business and purchase additional vehicles and inventory.
Lien Position: 2nd
Loan Amount: $850,000
Combined Loan to Value: 34%
Term: 12 months with no prepayment penalty
Details: Source Capital Funding provided a hard money owner-occupied refinance loan in San Francisco, California to borrowers who wanted to utilize the equity in their primary residence to grow their computer software business.
Lien Position: 1st
Loan Amount: $1,075,000
Loan to Value: 52%
Term: 12 months with no prepayment penalty
Details: Source Capital Funding was contacted by the borrower as he wanted to utilize the equity in his primary residence to re-start up his consulting business. We were able to expedite a hard money owner-occupied refinance loan in San Jose, California to accomplish his goals.
