A hard money Woring Capital loan closed on an income producing property in Lake Elsinore, CA 92530.
This cash-out refinance loan against an investment SFR dwelling provided improvement capital for the borrower’s religious operation that involved the expansion of existing church facilities with room additions.
Lake Elsinore is a natural freshwater lake in Riverside County, California, located east of the Santa Ana Mountains and fed by the San Jacinto River. … Originally named Laguna Grande by Spanish explorers, it was renamed for the town of Elsinore, established on its northeastern shore on April 9, 1888. Source: Wikipedia
Here are the loan details:
- Residential SFR
- Refinance, Cash-out
- Purpose – Working Capital
- Loan-to-Value (As Is) – 45%
- First Trust Deed
- 60 Month Term
- Principal & Interest Payments
- Riverside County, CALIFORNIA
- PRINCIPAL AMOUNT: $200,000.00
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