Huntington Beach, CA
Download Recent Transaction – $108,000 Business Purpose Cash-Out, Huntington Beach CA
| Property / Loan Information | |
| Property Type | 4 Unit Multi-Family |
| Lien Position | 2nd TD |
| Loan Amount | $108,000 |
| Broker Price Opinion | $1.62Mil |
| Occup | Owner Occ. |
| Lender Rate | 9.00% |
| CLTV on BPO | 9.32% |
| Loan Type | Business Purpose Cash Out |
| Amortization | Interest Only Due in 60 mos. |
| Guaranteed Int. | 12 months |
Loan Scenario:
Self-employed Borrower seeking a business purpose investment cash out to invest in Borrower’s truck repair and leasing business.
Subject was a 2-story, 4 unit multi-family property 1.5 miles from the ocean. Property measures 4,400 sf of gross living area, and is situated on a .191 acre lot. Property is located next to Huntington Harbor in close proximity to many shops, entertainment and the ocean. All the units were well maintained. .
Mortgage Vintage, Inc. was able to fund this hard money loan in Huntington Beach, CA within 3 business days from receiving the signed Term Sheet.