Property / Loan Information
Property TypeResidential Townhouse
Lien Position2nd TD
Loan Amount$51,000
AVM Value$380,000
OccupNon-Owner Occ.
Lender Rate10.75%
CLTV on AVM Value70.04%
Loan TypeBusiness Purpose Cash Out
AmortizationInterest Only Due in 36 mos.
Guaranteed Int.6 months

 

 

 

Loan Scenario:

Analytical Manager/Borrower and Investor obtained a business purpose cash-out on this rental property to finance new business venture. Subject Property is a 2 bed/2baths, 1,000 S.F. ranch-style Townhouse located in a suburban area of Carlsbad. Property features open living area, community pool with carpet and tile flooring throughout. Property is within proximity of grocery stores, restaurants and parks.  Property is currently rented for $1,750/mo. Mortgage Vintage, Inc., was able to fund this hard money loan in Carlsbad, CA, within 3 business days from receiving the signed Term Sheet.