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 […]
This self-employed and stated-income borrower exceeded his construction budget on his house and needed a loan to complete the project. Sequoia lent on his free-and-clear commercial building in Concord. Both tenants’ leases will expire during the term of the loan and Sequoia funded it without an appraisal of the subject property. We lent $100,000 at […]
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 […]
This borrower owns significant amounts of real estate, most of which is free and clear of encumbrances. The property had no loan on it, and the borrower wanted cash out to renovate the interior. Banks typically do not like to give this much cash out ($250,000), and the borrower preferred not to provide the extensive […]
This borrower is a non-profit church that requested an $850,000 loan to purchase a partially-vacant, mixed-use property for less than our loan amount, i.e. over 100% loan-to-value. Sequoia made the loan but cross-collateralized with the building the church uses as their temple to reduce the loan-to-value to an acceptable range below 50%. Sequoia lent at […]
This borrower recently inherited this property. He requested our loan to build a second unit in the basement for his Mother to live in. The borrower has a 712 FICO score and a substantial income. The referring broker knew he could count on Sequoia to immediately fund the loan.