Los Angeles, CA
Download Recent Transaction – Business Purpose Cash-Out Loan Funded – Los Angeles, CA
| Property / Loan Information | |
| Property Type | Residential Duplex |
| Lien Position | 2nd TD |
| Loan Amount | $140,000 |
| Estimated Valuation | $700,000 |
| Occup | Non-Owner Occ. |
| Lender Rate | 11.00% |
| LTV on Est. Value | 64.42% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | Interest Only Due in 12 mos. |
| Guaranteed Interest | 6 months |
Loan Scenario:
Borrower looking for a cash-out to purchase additional investment properties. This subject property is a multi-level style Residential Duplex with 6 bedrooms, 4 bathrooms sitting on a large 7,598 sf lot. Property features hardwood floors throughout with tiled kitchen and dining area. Property has 4 attached enclosed garages. Property is fully occupied and currently rented for $3,600/month. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.