2ND MORTGAGE BRIDGE LOAN FOR SAN JOSE CA RENTAL HOME


  • San Jose, CA
  • $35,000 Loan Amount
  • Single Family Home
  • 2nd Trust Deed

2nd trust deed mortgage to cash out equity on a tenant-occupied home in the Willow Glen neighborhood of San Jose. The Borrower needed the funds to update the property prior to listing it for sale. The estimated value is $925,000 and with an existing 1st mortgage balance of $166K, the combined LTV for this 2nd bridge loan is just 21.78% based on an internal review of value. Nationwide Mortgage funded the loan in a little over 3 weeks as the Borrower was in no rush to receive the funds.