Property / Loan Information
Property TypeSingle Family Residence
Lien Position2nd TD
Loan Amount$185,000
BPO Value$1,350,000
OccupOwner Occ.
Lender Rate9.50%
CLTV on BPO35.62%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only Due in 24 mos.
Guaranteed Int.6 Months

 

 

 

 

 

 

Borrower is a self-employed realtor of 30 years seeking a business purchase cash out to expand his antique selling business.

Subject is a 2 story, 4 bdrm/3 bath Single Family Residence located in Rancho Palos Verdes.  The Property measures 2,476 sf of gross living area, and is situated on a .26 acre lot.

Mortgage Vintage, Inc. was able to fund this hard money loan in Rancho Palos Verdes, CA, within 3 business days from receiving the signed Term Sheet.