Wilshire Quinn Capital, a private lending fund, made a significant announcement regarding its latest financial transaction. The Wilshire Quinn Income Fund extended a $3,000,000 cash-out refinance loan in Dana Point, California.
Transaction Details:
Loan Amount: The loan amount in question is $3,000,000, emphasizing the substantial nature of this transaction.
Funding Time: Impressively, this loan was funded with remarkable speed, taking only 6 business days from the initial capital request to full funding.
Loan Type: This transaction is a Cash-Out Refinance, providing the borrower with the financial flexibility to access their property’s equity.
Lien Position: The loan holds the 1st Trust Deed (TD) position, providing security and priority in the event of any future transactions involving the property.
Property Type: The subject property is a Single-Family Residence, located within the exclusive gated community of Ritz Cove in Dana Point.
Loan-To-Value: The property underwent an appraisal, valuing it at an impressive $4,730,000, resulting in a commendable loan-to-value ratio of 63 percent for Wilshire Quinn.
Term: This financial arrangement features a 12-month term, outlining the timeline for this strategic financial move.
This extraordinary property boasts picturesque ocean views and is situated in the exclusive gated community of Ritz Cove in Dana Point. Comprising 4,539 square feet, this single-family residence features 4 bedrooms, 4 baths, and sits on a generous .21-acre lot. Notably, it offers privileged access to the pristine Salt Creek Beach.
Wilshire Quinn’s expeditious handling of this transaction, along with its prudent financial management, highlights the fund’s expertise in private lending and underscores the value it brings to its clients in the real estate market.
