As of 3/31/19:
- Year-to-date annualized return: 7.29%
- Number of loans: 178
- Gross loan portfolio dollars: $123,393,562 (58.35% in 1st and 41.65% in 2nd position)
- Average loan-to-value: 50.94%*
- Average loan amount: $693,222*
*calculated when loans are initially funded
Our featured property this quarter is located at 131 Pinta Ct., Los Gatos, California. It is a 4,198 sq ft single family home located on a 14,505 sq ft lot. This home was built in 1965 and is located at the end of a cul-de-sac. It has 4 bedrooms, 4.5 bathrooms, bonus/game room, and a wine cellar.
It also features 9 skylights throughout the home, newly resurfaced hickory pecan hardwood floors, high ceilings, built-in speakers inside and out, waterfall feature at entry, 3 fireplaces, travertine and granite throughout, and an in-ground concrete pool/spa with outdoor kitchen. There is separate solar heating for the home and pool/spa.
Our borrowers wanted to purchase their next home in Los Gatos prior to selling their departing residence in San Jose. They utilized our Bridge Loan program to make it happen. We gave them a new 1st position loan on their new home and crossed collateralized their departing property This allowed us to achieve a 70% combined loan-to-value for a short 6-month term loan in a great area. When they sell the departing property, they will pay our loan down and use permanent financing to retire our loan completely.
Past 12 months Annualized Returns:
|Month||Income Partner||Growth Partner|