Property / Loan Information
Property TypeSFR
Lien Position2nd TD
Loan Amount$39,000
BPO Value$312,500
OccupNon-Owner
Lender Rate11.00%
CLTV on BPO Value60.16%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only Due in 60 mos.
Guaranteed Int.6 months

 

 

 

Loan Scenario:

Real Estate Investor looking for a cash-out to make repairs on subject property. The subject property is a 1-story 1,000 S.F. SFR built on a 10,890 S.F. lot located in Riverside.  The subject property is located within close proximity of the Galleria at Tyler Mall, Castle Amusement Park and the 91 FWY. Mortgage Vintage, Inc., was able to fund this hard money loan in Riverside, CA, within 3 business days from receiving the signed Term Sheet.