Funded
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The Deal
$600,000
Orange County, California
8.5%
60.0%
36 months
Cash-Out
Condominium
Refinance
The borrower requested a private money loan of $600,000 in Orange County. They purchased the subject property in 2010 for $750,000 and spent $100,000 on upgrades.
The property is owned free-and-clear and has an estimated market value of $1.0 million. In May 2017, a smaller unit in the same building, which was not remodeled, sold for $955,000.
The borrower used the funds to capitalize on another real estate opportunity. They have a strong financial profile, good credit, and are repeat Crescent Lenders clients.
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