Case Study – Spec RE Construction Loan (Prefab) (Redondo Beach)

OPPORTUNITY: Request for a residential construction loan to construct a spec prefab 4BDR 3.1BATH home in Redondo Beach.

BORROWER: Developer

PROFESSION: Residential Construction Development NET WORTH: Affluent

SOLUTION: Construction Loan

LOAN AMOUNT: $1,237,500

CONSTRUCTION COSTS: $963,828

VALUE: $1,650,000 (‘subject to completion’) LTC: 72% LTV: 75%

SQ FT: 2724

COST PER SQ FT: $454/$353

SALES PRICE: $1,850,000 (12/19)

CLOSED

If you have a similar case, or question, please e-mail me on craig.isaac@bancofcal.com

“You will get all you want in life, if you help other people get what they want”
– Zig Ziglar

Case Study – Creditline on Investment Properties for Further RE Investment (Redondo Beach)

OPPORTUNITY: Aspiring to lever current investment properties in order to improve and invest in additional investment properties.

PROFESSION: Real Estate NET WORTH: Affluent

SOLUTION: CREDITLINE ON INVESTMENT PROPERTIES

Value: $1,165,000

Mortgage: $510,000

Value: $1,200,000

Mortgage: $570,000

LINE OF CREDIT: $574,000

CASE CLOSED MAY, 2012

Case Study – HELOC on Primary Residence (Redondo Beach)

OPPORTUNITY: Attracted to a private banking relationship for preference with the refinance of the primary residence, request to transition Creditline on primary residence as avenue to close out former banking relationship.

SOLUTION: HELOC. PROCESSED REQUEST PARALLEL TO MORTGAGE REQUEST ENABLING CUSTOMER TO HAVE REASSURANCE THAT THEY COULD CLOSE OUT EXISTING RELATIONSHIP, AND OPEN CREDITLINE AFTER THE CLOSING OF THE MORTGAGE.

Value: $735,000

Mortgage: $245,000

LINE OF CREDIT: $250,000

CASE CLOSED

If you have a similar case, or question, please e-mail me on ceisaac@ymail.com