Property / Loan Information
Property TypeSingle Family Residence
Lien Position 2nd TD
Loan Amount$107,500
Broker Opinion$450,000
OccupOwner Occ.
Lender Rate10.25%
LTV on BPO Value65.00%
Loan TypeBusiness Purpose Cash Out
AmortizationInterest Only Due in 36 mos.
Guaranteed Int.6 months

 

 

 

Loan Scenario:

Borrower was seeking this Business Purpose Cash Out loan in Riverside to invest in his growing consulting business.

Subject is a 2 story SFR with 4 bedrooms, 2.5 bathrooms.  Property is located in Riverside, CA conveniently located near shops and entertainment.  The property measures 2,792 sf on a 7,405 sf lot.  The Property features a nice backyard with a pool.

Mortgage Vintage, Inc. was able to fund this hard money loan in Riverside, CA, within 3 business days.