This self-employed borrower is a Realtor that completely gutted and renovated this property and had just listed it for sale when she approached us for a loan. The property was free-and-clear, and she needed $1,100,000 cash-out to purchase another property. Due to a value near $2,500,000, the likely listing period of six months allowed the […]
This stated-income borrower has a 481 FICO score and has outstanding judgments and other involuntary liens on his credit report. He purchased this property using all cash and needed a quick $175,000 cash-out first mortgage to replenish his coffers. Sequoia made this 50% loan-to-value first mortgage at 12% and charged a modest $7,000 origination fee. […]
This self-employed, stated-income borrower needed Sequoia’s $471,000 loan to buy out his siblings ownership in the subject property. Sequoia made this 60% loan-to-value first mortgage at 11.5% interest and a 3 point fee. The referring Broker charged a 2 point fee, and the borrower was delighted to buy out his sisters.
This property was purchased in July of 2008 for $1,450,000 all cash. The owners are entrepreneurs that needed $550,000 cash out to secure the lease and make improvements to their new store, located across the street from the San Francisco Giants stadium. Since banks are very limited in terms of the amount of cash out […]
This property sold in 2006 for $1,600,000. Our borrower, an out of state investor, was in contract to purchase this property for $1,200,000 from the foreclosing bank. She came in with approximately $500,000 as a down payment and needed a $720,000 first mortgage from us to complete her purchase. She likely could have secured bank […]
When the broker brought us this scenario the borrowers had put $450,000 down on a property they were acquiring. They needed an additional $845,000 as a bridge to afford them time to sell one property before a traditional bank would provide financing. All borrowers had excellent credit and Sequoia was able to quickly provide the […]