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Hard Money Loan Closed in Rialto, California

By Jo-Ann Lapin On February 29 2024

A Hard Money Loan Closed On An Investment property in Rialto, CA 92376

A hard money loan closed on an investment property in Rialto, CA 92376. 

 

This Standard purchase loan against a new construction SFR provided acquisition funds for the borrowers’ real estate investment portfolio.

 

Rialto is a city in San Bernardino County, California, located in the heart of Southern California’s Inland Empire, and was incorporated in 1911, but can trace its roots to the 15th century when the Serrano Indians settled in the region. Rialto’s population grew from 3,156 in 1950 to over 103,526 as of the 2019 U.S. Census. Centrally located with convenient transit and freeway access, Rialto offers residents, businesses and commuters shorter travel times and direct connections to the region’s economic centers and world-class cultural, entertainment and recreational venues. Nearby Ontario International Airport.

 

Residential SFR.

Purchase

Purpose – Acquisition / Investment

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

First Trust Deed
1 Year Term
Principle & Interest Payments
San Bernardino County, CALIFORNIA
PRINCIPAL AMOUNT: $334,000.00

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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.