Hard Money Loan Closed In Bakersfield, California

By G. David Lapin On June 30 2023

A hard money Blanket loan closed on three income producing properties in Bakersfield, CA 91353

This blanket loan against one special use Commercial Building and two investment SFR dwelling’s provided restructuring capital for the borrower’s corporate operation that involved changing the mixture of debt and equity in the company's capital structure.

Bakersfield is a charter city in Kern County, California. It is the county seat and largest city of Kern County. Its economy is centered on many diverse industries…is Home of the "Bakersfield Sound", the distinct genre of country music made popular by Buck Owens, Merle Haggard, Billy Mize and others…has a Frank Lloyd Wright-designed house…is one of only six stops featured on Yelp’s “Perfect West Coast Road Trip” from Seattle to San Diego…and has welcomed U.S. presidents during their terms of office for more than 120 years: Rutherford B. Hayes (1880), Benjamin Harrison (1891), William McKinley (1900), Howard Taft (1909), George W. Bush (2004), and Barack Obama (2012). Source: Wikipedia & Visit Bakersfield

Commercial and Residential SFR’s.
Refinance
Purpose – Restructuring Capital
Loan-to-Value (As Is): 56%
First Trust Deed
60 Month Term
Principle and Interest Payments
Kern County, CALIFORNIA
PRINCIPAL AMOUNT: $680,000.00

For more information on our Hard Money Loans or Trust Deed Investments, call our office at 714.838.1474 ext. 102 or visit our:www.hanovermc.com

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Hanover Mortgage Company is California licensed only. Real Estate Broker – California Department of Real Estate. Broker License #01410448 │ NMLS I.D. Number: 337458. INTEREST RATES CAN CHANGE WITHOUT NOTICE. ASK US FOR CURRENT RATE INFORMATION. BORROWERS AND PROPERTIES MUST QUALIFY. CONDITIONS AND RESTRICTIONS MAY APPLY. Loan programs, amounts, rates and terms are subject to change without notice. Loan approval is not guaranteed and all loan applications are subject to verification of acceptable credit, income, employment, lien position and value of collateral in the sole discretion of Hanover Mortgage Company. Flood and/or property hazard insurance may be required. Additional fees, conditions, restrictions and limitations may apply. Not all programs are available in all areas. The interest rate for adjustable rate mortgage loans is subject to increase. Please contact Hanover Mortgage Company to determine your eligibility for a specific loan product. Hanover Mortgage Company does not offer financing for those transactions defined as ‘Covered Loans’ or ‘High Cost Loans’ in any state or federal law. Hanover Mortgage Company is a Mortgage Broker. Mortgage Broker fees will apply unless stated otherwise. Disclosure: Money invested through a mortgage broker is not guaranteed to earn any interest or return and is not insured. State law dictates that we acknowledge that interest on trust deeds is not guaranteed. No investment is completely risk free and past performance is not a guarantee of future results. Before investing, investors must be provided applicable disclosure documents. Investment Products: Are Not FDIC Insured • Are Not Bank Guaranteed • May Lose Value • Are Not a Deposit • Are Not Insured by Any Federal Government Agency.

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