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. […]
Retail / Office Building in Concord
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 […]