Single Family Cross Collateral

Property City: Two properties located in Novato

Loan Amount: $2,500,000

Lien Position: 1st

Pay Rate: 8.5%

Loan Term: 12 months

LTV: 60.40%

Investment Details

$2,500,000 first; 9.50% note rate with pays investor 8.50%. This was crossed against two properties, the First was a $2.7M purchase and a secondary property valued at $1,650,000.