Download Recent Transaction – $450,000.00 Business Purpose Purchase – Huntington Beach, CA
| Property / Loan Information | |
| Property Type | Single Family Residence |
| Lien Position | 1st TD |
| Loan Amount | $450,000 |
| Broker Price Opinion | $850,000 |
| Occup | Non-Owner Occ. |
| Lender Rate | 7.75% |
| LTV on BPO | 52.94% |
| Loan Type | Business Purpose Cash Out |
| Amortization | Interest Only Due in 24 mos. |
| Guaranteed Int. | 6 months |
Loan Scenario:
Borrower and long-time owner seeking a business purpose cash out to make cosmetic upgrades and repairs to improve marketability and increase rents.
Subject is a traditional 1-story, 3 bdrm/1ba Single Family Residence located in the highly desirable area Huntington Beach, CA. The Property measures 1,334 sf of gross living area, and is situated on a 4,791 sf lot. Property is in the downtown area and is in close proximity to restaurants and shops, as well as all services. Property features new roof, central air and heating, and hardwood floors throughout.
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.