A Funded Blanket Loan in Clearlake, CA!
A hard money loan closed on a single-family dwelling + vacant lot in Clearlake, CA. This blanket loan provided renovation funds to improve a rental property. Borrower is a seasoned landlord with 20+ SFR’s, and regularly makes property updates and renovations to his portfolio to maximize his ROI.
Subject is in Clearlake a city in Lake County, California, United States. Clearlake is 4.5 miles north-northwest of Lower Lake, at an elevation of 1,417 feet. As of the 2020 census, the city had a total population of 16,685, up from 15,250 in 2010. It takes its name from Clear Lake. Geologists believe that Clear Lake may be the oldest lake in North America, with lakes existing at its site for approximately 2.5 million years. Clear Lake was born when a huge landslide dammed the headwaters of Cold Creek, blocking westward water flow into the Russian River. Water filled the level valley. The rising waters eventually found an outlet in Cache Creek, which drained eastward into the Sacramento River.) Source: Wikipedia & Lake County Marketing and Economic Development Program
Here are the loan details:
- SFR & Vacant Lot
- Blanket Loan – Cash-out
- Purpose – Working Capital
- Loan-to-Value (ARV) – 48%
- First Trust Deed
- 60 Month Term
- Principal & Interest Payments
- Lake County, CALIFORNIA
- PRINCIPAL AMOUNT: $75,000.00
For more information on our Hard Money Loans or Trust Deed Investments, call our office at 714.838.1474 ext. 102 or visit our: