Property / Loan Information
Property Type Comm/Industrial
Lien Position1st TD
Loan Amount$1,267,500
Appraised Value$1.956Mil
OccupNon-Owner Occ.
Lender Rate9.25%
LTV on Appraised Value64.18%
Loan TypeBusiness Purpose Purchase
AmortizationInterest Only Due in 36 mos.
Guaranteed Int.6 months

 

 

 

Loan Scenario:

Real Estate Investor/Borrower purchased this Industrial building for investment purposes. Subject Property is owner user operating as an import/export car business on a stand-alone building.  Borrower brought in over $700k of own cash into this investment. The subject property is a commercial/warehouse building totaling 12,000 S.F. of gross building area situated on a 31,576 S.F. commercial-zoned site.  Subject was originally constructed in 1959 and has been adequately maintained. Mortgage Vintage, Inc. was able to fund the hard money loan in Gardena, CA within 3 business days from receiving the signed Term Sheet.