$200,000 hard money equity cash out loan.
Secured by a storage facility located in Lakehead, California.
The Borrower needed to cash out his equity to buy his partner out and provide enough funds to rehab the property. The appraised value of the property was $400,000 making the loan to value 50% based on appraised value. Nationwide Mortgage was able to secure funding for this loan within 2 weeks.