Property / Loan Information
Property TypeCondiminium
Lien Position2nd TD
Loan Amount$165,000
BPO Value$625,000
OccupNon-Owner Occ.
Lender Rate10.0%
CLTV on BPO63.52%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only Due in 24 mos.
Guaranteed Int.12 Months

 

 

 

 

 

 

Borrower is an investor seeking a business purpose cash out to purchase an additional revenue producing investment property.

Subject is a condominium located in the heart of El Segundo. Subject overall condition is good. The property measures 1,175 sf of gross living area.

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