Loan amount
$1,370,000
Loan type
Refinance {Cash-Out}
As-Is Property Value
$1,450,000
LTV
94% {LTV}
Property type
Single Family
Borrower Details
Credit score
630
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Newark
State
California
Loan Details
Current mortgage balance
$1,120,000
How much cash-out are you looking for?
$250,000
Additional Loan Information
Hi Team! I saw your listing doing research on ‘Hard Money’ Loans in California with up to a 100% LTV.

We currently owe $1,120,000 on our primary, single-family house ($870K for the 1st position Mortgage, $180K for 2nd position HELOC and $70K for 3rd position HELOC). It was appraised at $1,590,000 back in July 2022 and based on the current state of the market, it’s probably valued at approximately $1,400,000 - $1,500,000.

We’re looking to take cash out of the remaining equity or receive a large business loan using the house as collateral (Request: $250,000, but we can be flexible). My credit is around 620 and my Mom’s credit (co-signor if needed, we’re both on the title) is around 705. My Mom works Part-Time, and I was laid off in July, so our combined income has been minimal recently, so that is why we’re applying for these loans. Please let me know if you have any questions and if you’re able to help.

Here is the property address:
36411 Cypress Point Dr
Newark, CA 94560

Thanks!

Best,
Daniel
408-890-1682

Status
Created
January 25, 2024 - 8:30am

Hard Money Lenders Now Offering Real Estate Investor Loans in California Los Angeles | San Diego | San Jose | San Francisco | Fresno | Sacramento Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans