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$4.3M ARV-based loan: coastal CA fix-and-flip home 1/9/2019 9:28:30 PM  Broker Location: CA/92126 Hard Money/CA/92037
PostID: 49941     Status: Open  
Property Type Single Family Detached 
Units 1 Single 
Occupancy Non-Owner Occupied 
Purpose Rate & Term Refi 
Doc Type  
Product Type  
Lien Position First 
Appraised Value: $2,900,000 
Loan Amt 1st: $1,850,000 
Loan Amt 2nd: $975,000 
LTV: 80% 
Keywords: Refinance, Construction loan
General Notes: Seeking $4.3M refinance loan that is based on the ARV for a single-family, fix-and-flip property 300 feet from ocean in La Jolla, California. REFINANCE SCENARIO Total loan: $4,300,000 After repair value: $6,225,000 Loan to after repair value: 69% Initial loan (including reserves): $2,815,000 Construction loan: $1,485,000 Duration: 12-15 months As-Is-Value: $2,900,000 Current 1st loan payoff: $1,850,000 Partial 2nd loan payoff: $400,000 (Monthly loan payments for initial loan and construction loan will be incorporated into the loan.) Coastal development permit and building permit within several weeks away.
 Replies: 3 
Name: Jay Blanco Phone: 971-701-8594 1/10/2019 7:59:23 AM
Company: HomeXpress Mortgage Corp. Email:  
HomeXpress has excellent loan programs for NOO borrowers -- if you have a hard time finding an option please call me I would like to see if we could be a plan B - call me I would love to know more about this situation -- 971-701-8594
Name: George Pencak Phone: 818-877-4295 1/10/2019 8:27:24 AM
Company: Athas Capital Group Email: Display Advertiser: pages 108126
Athas Capital has excellent rates for Non-Owner Occupied Business Purpose! Please contact me for further information.
Name: Scott Vincenti Phone: 833-923-2794 1/16/2019 11:45:51 AM
Company: Civic Financial Services Email: Display Advertiser: page 132
CIVIC specializes in this segment of the market. We can't refinance on the arv amount, but we can accompany the refinance loan with rehab funds based on the expected arv in order to provide the full amount of funds needed. (833) 923-2794
Program/Credit Grade Rate Pts/YSP Product Mtg Lates Prepay Penalty Notes
Private Money 8.500% 2.000% Interest Only Other None Refinance and Rehab Loan
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