Glendale, CA
Download Recent Transaction – Business Purpose 2nd TD Cash-Out Loan Funded – Glendale, CA
| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 2nd TD |
| Loan Amount | $153,750 |
| Est. Lender Value | $875,000 |
| Occup | Non-Owner Occ. |
| Lender Rate | 10.50% |
| CLTV on Est. Value | 65.00% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | Interest 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.