Mortgage lead for Residential loan in Redondo Beach, CA, 90277

Loan Request for Residential loan in Redondo Beach, CA, 90277

Request #3713593 by Lender

Date Posted

2/19/2025 1:15:57 AM

Property at

Redondo Beach, CA, 90277, USA Show Map

Borrower at

Property Type

Residential

Property Value

$1,858,000

Amount of Existing Loans

$680,000

Loan Request

$240,000

LTV

49.52 %

Credit Rating

720-739

Net Worth

$1,000,000 - $4,000,000

Loan Purpose

Second, Third or HELOC

Purpose

Chandra Venu is seeking a loan of $240,000 to be used as working capital for his Software Company. According to Mr. Venu, He is a principal in a software company that develops applications for municipalities and other government entities to manage payments and programs. His company was instrumental in developing software to manage the recent relief payments and/or repayment of funds to renters and landlords during the COVID-19 epidemic. The funds requested will be used to develop short-term working capital in two new ventures in Austin, Texas, and San Diego, CA.

Strength of Borrower: Personally known to me, Chandra has always been an excellent client, having purchased and developed properties over the years, most notably the subject property along with a 3-unit plus a house on Avenue C. in Redondo Beach. In addition, this is a good property in Redondo Beach Ca. with a monthly rent of $7,200. This and a low CLTV should make this a good loan. I hope you agree.

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Loan Request for Residential loan in Redondo Beach, CA, 90277