COMPLETED! HARD MONEY LOAN IN SANTA FE SPRINGS: $120,000 @13.50%, 2nd, Cash Out, SFR, 62.67% CLTV
Loan Purpose Mortgage Vintage successfully funded a $120,000 business-purpose cash-out bridge loan secured by a second trust deed on a single-family residence in Santa Fe Springs, California. The mother and daughter co-borrowers utilized the loan proceeds for business-purpose working capital and equipment to support their telecommunications supply business operations. This business-purpose cash-out financing was structured…