Elections matter and votes for our current Sacramento elected officials have consequences. My last Blog discussed AB 2501 which was a proposed Foreclosure Law that would create moratoriums on Foreclosures. Our voices, calls, letters and emails to elected officials quelled AB 2501, however the Super Majority in Sacramento took many of those same destructive ideas and passed…
A previous successful MVI borrower, Flipper, real estate investor and successful general contractor that sought a business purpose 1st TD to purchase this SFR in Orinda, CA in Contra Costa County. Upon the close of escrow the borrower put his 15 years of experience to work to add 900 SF to the home by building…
Real estate investor sought a business purpose cash-out 1st TD on this non-owner occupied investment property in Burbank in LA County. Funds from our loan will be used to payoff an existing 1st and a 2nd TD which is in default. The borrower lost his job last year and fell behind in payments, and…
Borrowers were outstanding previous Mortgage Vintage borrowers with 10 successful loans and 7 paid off, sought a 1st TD to help complete the purchase of this 14-unit multi-family property in Anaheim in Orange County. The borrowers have a high level of real estate investment experience in and around the Orange County area covering both residential…
What does it mean to be short to close? Property sellers, brokers and borrowers cringe when they hear the phrase, “Short to Close”. This Escrow alarm sent out to all stakeholders in the transaction means that the loan amount is not sufficient to cover all the costs necessary to close the loan transaction. Unfortunately, the…
Real estate investor and previous successful Mortgage Vintage borrower sought a business purpose 1st TD to payoff an existing 1st TD and cash-out to complete the rehab of this SFR in Corona, CA in Riverside County. The exit strategy from our loan is the sale of the property. At completion of the rehab, the subject…
Borrower sought a business purpose cash-out 2nd TD on this owner-occupied duplex in LA. Funds from our loan will be used to complete the remodel of one of the units of the duplex. 100% of the construction budget will be held in escrow funds control. The subject is a bungalow style detached duplex. Unit #1…
Business owner and real estate investor sought a 1st trust deed to complete the purchase of this commercial property in Whittier in LA County. Though currently vacant, the borrower has a tenant-in-tow that has signed a 3-year lease starting at $7,500/month for the 1st floor of the building. The lease began July 1st. The subject…
Borrowers sought a 1st TD to help complete the purchase of this 14-unit multi-family property in Anaheim in Orange County. The borrowers have a high level of real estate investment experience in and around the Orange County area covering both residential and commercial real estate. The exit strategy from our loan is a commercial bank…
Borrowers are highly experienced real estate investors that sought a 1st TD to purchase this SFR new construction investment property in Irvine in Orange County. With a background in the hotel and hospitality industry, the borrowers intend to furnish the property at the completion of the construction and then use as corporate housing to maximize…
Business owners and real estate investors sought a new business purpose cash-out 1st TD on this non-owner occupied investment property in Modesto, CA in Stanislaus County. Funds from our loan will be used to payoff an existing 1st as well as for making improvements to the same property. The subject property is 1,220 SF ranch…
Real estate investor and previous successful MVI borrower is sought a business purpose cash-out 1st TD on this two-unit commercial building in San Bernardino. Funds from our loan are being used for capital and tenant improvements on both the front and rear building. The subject property is a commercial property in San Bernardino situated…
Self employed borrower sought a business purpose cash-out 2nd TD on this owner occupied SFR in Bell Gardens, CA in LA County. Funds from our loan will be used to put back into the borrower’s drywall business. The subject property is a 2-story traditional style home sitting on a large 11,514 SF lot with a…
Real estate investor sought a business purpose cash-out 2nd TD on this non-owner occupied SFR in Fontana, CA in San Bernardino County. Funds from our loan will be used to remodel the home and build a new garage. The home has extensive fire damage that was started by a neighbor. Though insurance is covering most…
When purchasing, selling or refinancing a property, the Preliminary Title Report (Prelim) shows critical elements of a Properties Chain of Title that must be verified and or cleared to transact. A Preliminary Title Report can be obtained from a Title Company with a local County presence where the property resides. While managing the prelim is…
Our thoughts and prayers are with you and your family as we all navigate this unprecedented time together. Our hearts go out to the people who have been affected by this health crisis and we appreciate everyone who is on the front line working to contain COVID-19. Now more than ever, we want to communicate with you and stress that Mortgage Vintage…
Real estate investor and full-time wage earner employee sought a cash-out 1st TD on this Lancaster SFR in LA County. Funds from our loan were used to payoff a 1st & 2nd TD as well as cash-out to make minor updates to the same property. The subject property was a traditional style single story SFR…
Investment Scenario: 788 credit score borrower and long-time business owner was seeking a business purpose 1st TD to purchase this industrial building in Fullerton, CA in Orange County. The subject property was a 12,000 SF industrial building with 3 tenants – 100% occupancy. The building was 12,000 SF. Each unit offered an entrance from East…
Long-time real estate investor and business owner was seeking a business purpose, cash-out 3rd TD on this Industrial Flex property in Carlsbad, CA. Funds from our loan were used to help relocate his sports flooring and locker manufacturing business to Ensenada, Mexico where he is building a 25,000 SF factory. For the past 20 years…
Real estate investor/builder was seeking a business purpose construction loan 1st TD on this Rancho Cucamonga permitted and entitled lot that he purchased in Dec. 2019. Funds from our loan were used to payoff an existing lien on the property as well as fund the construction of the approved and permitted project. At completion, the…
What are the 2020 opportunities in ADU lending? This Blog is an update to our Additional Dwelling Unit (ADU) Blog published in Sept. 2018. Many new developments have happened in the last 1½ years relating to ADU’s that influence ADU requirements, development, construction, laws and financing. Recently I organized and spoke on a California…
Previous successful MVI borrower and highly experienced general contractor was seeking a business purpose 1st TD to purchase this SFR in Orinda, CA in Contra Costa County. Upon the close of escrow the borrower then put his 15 years of experience to work to remodel the kitchen, bathrooms, replace the roof and paint the home. …
Real estate investor was seeking a business purpose 2nd TD on this SFR in Rosemead, CA in Los Angeles County. Funds from our loan were used to bring the 1st TD current and invest back into the property in preparation for sale. The subject property is an 1,843 SF ranch style SFR that sits on…
Real estate investor and long-time general contractor was seeking a business purpose purchase loan to Fix & Flip this SFR in Los Angeles. The loan of choice for this scenario was the “MVI 80/80” fix & flip loan where we provide 80% of the purchase price and 80% of the rehab cost all on one…
Business owner was seeking a business purpose cash-out 2nd TD on this owner occupied SFR in Carlsbad. Funds from our loan were used to payoff an existing 2nd and to purchase a nail salon. The subject property is a traditional style SFR located in Carlsbad in San Diego County. The two-story home is 2,104 SF…
Successful business owner was seeking a business purpose cash-out 2nd TD on this beautiful Ojai SFR in Santa Barbara County. Funds from our new Mortgage Vintage loan were used to invest back into the borrower’s financial company for working capital. The home is a completely remodeled contemporary style SFR with beautiful mountain views. The subject…
Real estate investor was seeking a business purpose cash-out 2nd TD to make improvements to a non-owner occupied SFR investment property in Simi Valley in Ventura County. The subject property is a contemporary style SFR located in Simi Valley in Ventura County. The two-story home is 3,163 SF and sits on a large 10,454 SF…
Real estate investors were seeking a 1st Trust Deed to purchase this Seal Beach SFR as an investment property with the intent to continue the rehab of the property and then either sell the property or conventionally refinance as a rental property once the rehab is complete. The Borrowers entered into a Lease Option Agreement…
Long-time business owner was seeking a business purpose 1st TD to purchase this commercial shopping center in Lompoc, CA in Santa Barbara County. The borrower has been acting as the property manager of this property since 2015 and is now exercising his right to purchase the property for $1.2M under a Lease Option to Buy…
Long-time business owner was seeking a business purpose 2nd TD on this SFR home in Huntington Beach in Orange County. Our new loan paid-off an existing 2nd TD used for business related expenses to the borrower’s IT Consulting company, as well as a tax lien. There is no cash-out to the borrower – all payoffs…