Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$2,535,000
BPO Value$3.9Mil
OccupOwner
Lender Rate10.50%
LTV on BPO65.00%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest 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.