Hard Money Loan Closed in Adelanto, California

By G. David Lapin On August 7 2023

A Hard Money Working Capital Loan Closed On An SFR In Adelanto, CA 92301Â

A hard money Working Capital loan closed on an SFR in Adelanto, CA 92301.

The loan provided Working Capital funds to a seasoned real estate investor to use towards the purchase of additional real estate for investment. The subject property was income producing and existing rent covered debt service/PITI.

Adelanto is a city in San Bernardino County, California, United States and was founded in 1915 by E. H. Richardson, the inventor of what became the Hotpoint Electric Iron. He sold his patent and purchased land for $75,000. He had planned to develop one of the first master planned communities in Southern California. Adelanto continued as a "community services district" until 1970, when the city incorporated, and Adelanto became San Bernardino County's smallest city. The city became a charter city in November 1992

Residential SFR

Refinance

Purpose – Working Capital

Loan-to-Value (As Is): 60%

First Trust Deed
60 Month Term
Principle & Interest Payments
San Bernardino County, CALIFORNIA
PRINCIPAL AMOUNT: $117,000.00

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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DISCLAIMER
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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