COMPLETED! HARD MONEY LOAN IN PLACERVILLE: $530,000 @11.50%, 1ST TD, CASH-OUT REFI, MIXED USE, 54.64% LTV
Loan Purpose Mortgage Vintage funded a $530,000 business-purpose cash-out refinance secured by a mixed-use commercial property in Placerville, El Dorado County, California. The borrower, a high-income professional with reported annual earnings of $400,000, acquired the investment property in 2023 for $500,000 with $100,000 down and subsequently invested approximately $200,000 in property improvements. The primary purpose…