Guerneville SFR Hard Money 2nd Mortgage
Guerneville, CA (Sonoma County)
$30,000 Loan Amount
Single Family Home
2nd Trust Deed
$30K hard money loan secured by a 2nd trust deed on a highly custom built home in Guerneville, a quaint town in Sonoma County. The property size is approximately 2,600 square feet on a 1/2 acre lot. It has been a rental, but the Borrower needed the funds to finish preparing the home for resale. The estimated value is $800,000 with an existing 1st Mortgage of $586,000, which makes for a 77% Combined LTV based on an internal review of value. The Borrower plans to payoff this hard money loan once the property has sold in the next 12 months. The loan was funded within 3 weeks in July 2014.