Property / Loan Information
Property TypeSFR
Lien Position2nd TD
Loan Amount$220,000
ARV BPO Value$1,75Mil
OccupNon-Owner
Lender Rate11.75%
CLTV on BPO ARV60.40%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only Due in 36 mos.
Guaranteed Int.6 months

 

 

 

Loan Scenario:

642 FICO Woodland Hills resident, Business owner and previous borrower of Mortgage Vintage looking for a business purpose cash-out. Partial of the funds will be used toward borrower’s advertising business and the remainder will be used to pay off existing 2nd TD and finish the rehab on the subject property.  Mortgage Vintage, Inc., was able to fund this hard money loan in Calabsas, CA, within 3 business days from receiving the signed Term Sheet.