Commercial Loan Corporation works with Attorneys and their clients to provide 3rd party funding to trusts and estates. By doing so, we help our clients take advantage of California Prop 58 and keep the low proposition 13 tax base paid by their parents (or grandparents).
“Proposition 58, effective November 6, 1986, is a constitutional amendment approved by the voters of California which excludes from reassessment transfers of real property between parents and children. Proposition 58 is codified by section 63.1 of the Revenue and Taxation Code.”
Commercial Loan Corporation is the company to call if you are trying to keep your parent’s Proposition 13 tax rate. We are a direct lender and can close your loan with our own funds. You can expect:
- An easy application process
- Flexible underwriting guidelines (No credit score minimums)
- Loans closed in 7 to 10 calendar days