North Coast Financial provided financing for a $765,000 estate loan in San Jose, California. The borrower was in need of a hard money loan to refinance a reverse mortgage on the property that would soon be due. The borrower also needed to borrow against the equity in the property to fund repairs and improvements prior to selling. Updating the property allowed the borrower to obtain the highest sales price possible and get the most from their inherited property.
The $765,000 loan amount was secured by a single family residence owned by an estate. The loan to value ratio was 64%.