Castro Vally, CA (Alameda County)
$125,000 Loan Amount
1st Trust Deed
$125K hard money equity cash out loan secured by 100+ acres of raw land in Castro Valley, near Oakland, CA. The Borrower owned the property free-and-clear and needed to cash out some funds for development costs. The appraised value of the property was $1.6M so the LTV is just 8% based on an internal review of value. Nationwide Mortgage was able to fund this loan 3 weeks after receipt of the application. The loan term is 3 years. This private mortgage was funded in September 2014.