Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$182,500
BPO Value$365,000
OccupNon-Owner
Lender Rate9.00%
LTV on BPO Value50.00%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only Due in 24 mos.
Guaranteed Int.6 months

 

 

 

Loan Scenario:

Real Estate Investor looking for a business purpose cash-out to finance new business venture. Subject property is a 1,296 s.f., 3 bed, 2 baths SFR in Gardena near the 91 & 110 FWY located on a low trafficked, nice residential street with easy access to the 110 & 405 FWY. Property features wood flooring, carpeted bedrooms, wood kitchen cabinetry and counters, enclosed patio and mounted central air furnace. Mortgage Vintage, Inc., was able to fund this hard money in Gardena, CA, loan within 3 business days from receiving the signed Term Sheet.