| Property / Loan Information | |
| Property Type | Single Family Residence |
| Lien Position | 3rd TD |
| Loan Amount | $250,000 |
| Appraised Value | $1,650,000 |
| Occup | Non Owner Occ. |
| Lender Rate | 12.00% |
| CLTV on Appraisal | 53.33% |
| Loan Type | Business Purpose Cash Out |
| Amortization | Interest Only Due in 36 mos. |
| Guaranteed Int. | 6 months |
Loan Scenario:
Successful repeat borrower sought a business purpose cash out to make some cosmetic upgrades and repairs to rental property to improve marketability and increase rents.
Subject is a traditional 1-story, 2 bdrm/2.5 ba Single Family Residence located in Los Angeles, in a residential neighborhood adjacent to a neighborhood of higher valued homes. The Property measures 2,494 sf of gross living area and is situated on a 13,503.6 sf lot.
Mortgage Vintage, Inc. was able to fund this hard money loan in Los Angeles, CA, within 3 business days from receiving the signed Term Sheet.