Southern California is one of the most active private money lending markets in the country. Property values are higher than other parts of the country, transactions move quickly, and many investors and property owners regularly run into situations that conventional banks are not built to handle. That is where private money, often called hard money,…
Loan Purpose Mortgage Vintage funded a $465,000 business-purpose construction loan secured by a single-family residence undergoing a substantial renovation and addition in Los Angeles, Los Angeles County, California. The borrowers, carrying strong FICO scores of 807 and 776, sought financing to support an active residential redevelopment project with clearly defined business-purpose investment objectives. Of the…
Loan Purpose Mortgage Vintage funded a $330,000 first trust deed cash-out loan secured by two adjoining vacant residential land parcels in the Sunland neighborhood of Los Angeles County, California. The borrowers, who carried strong FICO scores of 793 and 644, used a portion of the loan proceeds to resolve a partnership interest through escrow, while…