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$200,000 2nd Trust Deed 80% CLTV in Souther CA DN#1744
Executive Summary $200,000 2nd Trust Deed loan amount requested. $1,232,800 existing liens on 3 properties; 80% CLTV --All 3 properties are Located in San Diego, CA --Wants a 2nd mortgage to be blanketed on all 3 properties Purpose of cash out: To Recoup the money spent on repairing the properties that he borrowed against his life insurance. His goal is to get a mortgage instead of borrow against his life insurance so that he can get an income tax deduction. Compensating Factors: --There is $547,200 in equity in these 3 properties that you are blanketing --The borrower makes more than $500,000 per year --The borrower has a 757 FICO score --He has over $1,200,000 in his IRA account. He can´┐Ż??t pull out any funds from the IRA without getting hit with a 10% tax. But when he turns 59.5, which is in May of 2018 then those funds would be available to repay the loan if necessary. --At 15% interest he is still in a better situation because now he has the tax write off. --You can tell the borrower is committed to maintaining the properties in good shape because he spent $140,000 to fix up his properties. Wants a term of 2 years. Exit strategy: Pay off with own income or IRA This is a controlled and reasonable risk for a very good return.
75% LTV; 801 FICO; Purchase
California
Our borrower with exceptional credit scores, put down 25% plus closing costs to acquire the N/O/O...
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Price:$315k
UPB%:100%
Rate:9%
LTV:75%
YTM:N/A
70% LTV; Cash-Out Refi of a
California
Our borrower used the proceeds of our mortgage loan against her N/O/O investment property to grow...
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Price:$441k
UPB%:100%
Rate:8%
LTV:70%
YTM:N/A
70% LTV; 1x DSCR; C/O Refi of
California
Our borrower, with relatively strong credit scores, used the proceeds of our mortgage loan against...
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Price:$217k
UPB%:100%
Rate:8%
LTV:70%
YTM:N/A
60% LTV; Cash-Out Refi of a
California
Our borrower used the proceeds of our mortgage loan against her N/O/O investment property to grow...
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Price:$390k
UPB%:100%
Rate:7%
LTV:60%
YTM:N/A
Great Starter Investment!
New york
Great Starter Investment! 53.65% LTV. Commercial property. All units are leased out. Great borrower....
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Price:$110k
UPB%:100%
Rate:12%
LTV:54%
YTM:27%

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