|Property / Loan Information|
|Lien Position||2nd TD|
|ARV BPO Value||$3.35Mil|
|CLTV on BPO Value||49.48%|
|Loan Type||Business Purpose Cash-Out|
|Amortization||Interest Only Due in 12 mos.|
|Guaranteed Interest||6 months|
This property is a new 3,314 s.f., 5 bdr/5.5 bath SFR located in the West Side of Los Angeles. Owners have owned the house for over 10 years as a rental. Owners decided to remodel and add square footage and will sell the property upon completion. Property has new exterior/interior finishes, roof, garage, energy efficient doors/windows, plumbing, electrical, Control 4 HVAC and Smart Home system, high- end gourmet appliances, fixtures, modern landscaping and indoor/outdoor living area in the back yard. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.