Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$75,000
BPO Value$225,000
OccupOwner
Lender Rate9.25%
LTV on BPO Value33.33%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only Due in 60 mos.
Guaranteed Int.6 months

 

 

 

Loan Scenario:

Self-Employed Borrower looking for business purpose cash-out to upgrade and purchase new salon equipment for her current Hair Salon business. Subject property is a 1,573 s.f. SR sitting on a large 8,712 s.f. lot located in Indio (Inland Empire) near casinos, golf courses, resorts and the 10 FWY. Mortgage Vintage, Inc., was able to fund this hard money loan in Indio, CA, within 3 business days from receiving the signed Term Sheet.