Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount$177,500
BPO Value$355,000
OccupNon-Owner
Lender Rate9.00%
LTV on BPO Value50%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only Due in 24 mos.
Guaranteed Int.6 months

 

Loan Scenario:

Real Estate Investor looking for a business purpose cash-out to finance new business venture.  Subject property is a 1,281 s.f., 3 bed, 1.5 baths SFR located in Los Angeles.  The property has been updated within the last 2 years with newer interior/exterior paint, trimming, siding and window/door frames.  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.