|Property / Loan Information|
|Lien Position||1st TD|
|LTV on BPO Value||65.00%|
|Loan Type||Business Purpose Cash-Out|
|Amortization||Interest Only Due in 24 mos.|
|Guaranteed Int.||6 months|
Self-Employed Borrower who owns a tow trucking business is seeking a loan to purchase additional tow trucks in order to expand his business. Subject Property is a 1,373 s.f. SFR sitting on a 5,972 s.f. lot with 3 bed/2 baths. Subject is in good condition and located on a residential street in a quiet neighborhood. Subject is occupied and secured and in close proximity to the 105/405/110 FWYS, The Forum, Hollywood Park Casino, and LAX. Borrower plans to pay loan off with a conventional refinance. Property is currently rented for $2,000/mo. 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.