Property / Loan Information
Property TypeResidential Manufactured Home
Lien Position1st TD
Loan Amount$70,000
Broker Price Opinion$123,000
OccupNon-Owner Occ.
Lender Rate10.75%
LTV on BPO56.91%
Loan TypeBusiness Purpose Cash Out
AmortizationInterest Only Due in 36 mos.
Guaranteed Int.6 months

 

 

 

Loan Scenario:

Real Estate Investor looking to purchase this Residential Manufactured Home for rental income. Subject Property is a Single Family Manufactured Home built in 1988 with 3 bedrooms, 2 full baths and 1,188 square feet of living space in Victorville, CA. Manufactured Home has permanent foundation permit and sits on a large 1.03 acre lot. Property is in a rural and suburban area, close to grocery stores and parks.

Mortgage Vintage, Inc. was able to fund this hard money loan in Victorville, CA within 3 business days from receiving the signed Term Sheet.