Loan Purpose Mortgage Vintage funded a $128,000 business-purpose cash-out refinance secured by a fourplex multifamily property in Hawthorne, Los Angeles County, California. The borrower, an owner-occupant residing in one of the four units, sought a second trust deed to retire a small existing junior lien, fund minor improvements to the three occupied rental units, and…
Brief Overview Loan Summary Business owner sought a $180,000 business purpose 2nd Trust Deed cash out loan on this owner-occupied SFR and 3 non owner occupied ADUs, in Hawthorne, Los Angeles County, CA. The borrower will be using the loan proceeds to complete the 3 ADUs. The ADUs are 90% complete. This loan is based on…
Borrower and real estate investor were seeking a 2nd TD to make improvements to the subject property which will allowed the borrower to increase the monthly rental income on the property. The exit strategy by the borrower is refinance with a conventional loan. The subject property is ranch style 4-unit residence in Hawthorne located in…
Hawthorne, CA Download Recent Transaction – Cash-Out Commercial Loan Funded – Hawthorne, CA Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $470,000 Appraised Value $988,000 Occup Non-Owner Occ. Lender Rate 9.25% LTV on Appraised Value 47.57% Loan Type Business Purpose Cash-Out Amortization Interest Only Due in 5 years Guaranteed Interest 6 months …