Property / Loan Information
Property TypeSFR
Lien Position 2nd TD
Loan Amount$153,750
Est. Lender Value$875,000
OccupNon-Owner Occ.
Lender Rate10.50%
CLTV on Est. Value65.00%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only Due in 24 mos.
Guaranteed Int.6 months

 

 

 

Loan Scenario:

Real Estate Investor and Self-Employed borrower looking for a 2nd TD business purpose cash-out to expand his current granite marble business in order to purchase new machines to cut and polish granite. The subject property is a 1,770 s.f. SFR on an 8,102 s.f. lot located in a high-demand area in Glendale. Property features 3 bed, 2 baths with wood floorings throughout. Mortgage Vintage, Inc. was able to fund this hard money loan in Glendale, CA within 3 business days from receiving the signed Term Sheet.