Private Money Loan Closed in Bakersfield, California

By G. David Lapin On August 7 2023

A Hard Money Acquisition Loan Closed On 5-Units In Bakersfield, CA 93308

The loan provided purchase money funds to a seasoned real estate investor for the Acquisition of a 5 Unit Residential Income Property with most tenants being long term and having on-site laundry and storage units that provide additional income.

Founded in the mid 1800's, and incorporated in 1870, the town of Bakersville was named for David Baker, one of the first to live in the area around 1790 and described as "a large landowner, innkeeper, merchant and political leader until about 1859, when he and his family migrated to the far west.

Residential Duplex & Tri-plex on One Lot.

Purchase

Purpose – Acquisition

Loan-to-Value (As Is): 65%

First Trust Deed
60 Month Term
Principle & Interest Payments
Kern County, CALIFORNIA
PRINCIPAL AMOUNT: $162,000.00

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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