Nonprofit Cash-Out Refinance — Lake Elsinore, CA
By Hanover MC On June 30 2023
$200K cash-out refinance for a nonprofit's facility expansion. Lake Elsinore, CA. 45% LTV, 1st TD.
H
Hanover MC
Private Money & Trust Deed Lending
By Hanover MC | June 30, 2023 | 2 min read | Riverside County, California
Closed Deal · Lake Elsinore, CA · Riverside County
Hard Money Cash-Out Refinance Closed for Nonprofit Organization in Lake Elsinore, CA
$200,000 first trust deed, 45% LTV, cash-out refinance on an investment SFR providing improvement capital for a facility expansion.
Hanover MC arranged a $200,000 hard money cash-out refinance secured by an investment SFR in Lake Elsinore, CA, closing at 45% loan-to-value in first trust deed position with a 60-month term. With capital provided by a whole trust deed investor, the loan provided improvement capital for a nonprofit religious organization, used to expand existing facilities with room additions.
$200K
Loan Amount
45%
LTV As-Is
1st TD
Position
60 mo
Term
The Deal
This cash-out refinance, secured by an investment SFR dwelling in Lake Elsinore, CA, provided improvement capital for a nonprofit religious organization's facility expansion, including room additions to existing structures.
The loan closed as a first trust deed in Riverside County with a 60-month term on principal and interest payments, at 45% loan-to-value against the as-is value of the property.
Loan Snapshot
- Property typeResidential SFR
- PurposeRefinance, Cash-Out — Working Capital
- Loan-to-value (as-is)45%
- PositionFirst Trust Deed
- Term60 Months
- PaymentsPrincipal & Interest
- CountyRiverside County, CA
- Principal amount$200,000.00
Figures describe this specific, previously closed transaction only — not a quote or commitment to lend. Every borrower and property is underwritten on its own terms.
About Lake Elsinore, CA
Lake Elsinore takes its name from a natural freshwater lake in Riverside County, located east of the Santa Ana Mountains and fed by the San Jacinto River. Spanish explorers originally called the lake Laguna Grande; it was later renamed for the town of Elsinore, established on its northeastern shore on April 9, 1888.
Why Organizations Use Hanover MC in Riverside County
Single Focus
Arranging private money mortgages and trust deed investing — not split across property management, HOA administration, or brokerage sales.
Asset-Based Underwriting
Decisions are based on property equity, and not bank-style debt-to-income ratios. (lite docs)
Organizational Borrowers
Comfortable arranging business-purpose loans for nonprofit and religious organizations, alongside individual and corporate investors.
Private Money Mortgage Company
Hanover MC arranges loans on behalf of private trust deed investors who provide the capital.
Frequently Asked Questions
What property secured this Lake Elsinore, CA loan?
An investment single-family residential dwelling in Lake Elsinore, CA, used as collateral for a cash-out refinance.
What was the purpose of the loan?
A cash-out refinance for working capital, providing improvement capital used for a facility expansion, including room additions to existing structures.
What is the Loan-to-Value (LTV) on this transaction?
The loan closed at 45% LTV (as-is value), in first trust deed position, with a 60-month term on principal and interest payments.
Does Hanover MC arrange loans for nonprofit or religious organizations?
Yes. Hanover MC arranges business-purpose hard money loans secured by real estate for a range of organizational borrowers, including nonprofit and religious organizations, when the loan is for business purposes such as facility improvement.
Who funded this loan?
This loan was funded through a whole trust deed investor, arranged by Hanover MC. Hanover MC is a private money mortgage company.
Is this loan available for personal or owner-occupied use?
This specific loan was for business and organizational purposes. Hanover MC does arrange owner-occupied loans when the loan is for a business purpose. Loans for personal, family, or household (consumer) use are not offered.
Need Capital for an Organization or Investment Property?
Call to discuss your scenario, or apply online.
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Hanover Mortgage Company arranges loans on behalf of private trust deed investors. All loans are business purpose only. No consumer loans. California real estate only. This is not an offer to lend. Loan programs, amounts, rates, and terms are subject to change without notice. Borrowers and properties must qualify. Conditions and restrictions may apply. Not all programs available in all areas. Not a commitment to lend. All transactions subject to underwriting and investor approval. 1st, 2nd, and 3rd trust deed positions available.