A hard money Working 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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