|Property / Loan Information|
|Property Type||Single Family Residence|
|Lien Position||3rd TD|
|Occup||Non Owner Occ.|
|CLTV on Appraisal||53.33%|
|Loan Type||Business Purpose Cash Out|
|Amortization||Interest Only Due in 36 mos.|
|Guaranteed Int.||6 months|
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.