Los Angeles, CA
Download Recent Transaction – Business Purpose Cash-Out Loan Funded – Ch- Los Angeles, CA
| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $2,535,000 |
| BPO Value | $3.9Mil |
| Occup | Owner |
| Lender Rate | 10.50% |
| LTV on BPO | 65.00% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | Interest Only Due in 12-1-17 |
| Guaranteed Int. | 8 months |
Loan Scenario:
Current Mortgage Vintage, Inc., borrower looking for a business purpose cash-out loan to payoff existing liens and to finance inventory for family interior and jewelry design business and for their new specialty Vodka business. Subject property is a large 3,367 s.f. SFR on a 21,025 s.f. lot located in the Bel-Air neighborhood of Los Angeles. 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.