San Bernardino, CA
Download Recent Transaction – Business Purpose Cash-Out Loan Funded – San Bernardino, CA
| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $110,500 |
| BPO Value | $170,000 |
| Occup | Non-Owner Occ. |
| Lender Rate | 10.00% |
| LTV on BPO Value | 65.00% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | Interest Only Due in 36 mos. |
| Guaranteed Int. | 6 months |
Loan Scenario:
Self-Employed Borrower looking for cash-out to complete remodel on subject property and purchase additional investment property. Subject property is a 7,750 s.f. fenced lot (0.18 acre) with 4 bedrooms/2 bath SFR located in the Inland Empire. Subject property is located near schools, parks, shopping centers and the 215 and 210 freeways. Owner has owned the house as a rental and decided to remodel and add square footage. Mortgage Vintage, Inc. was able to fund this hard money loan in San Bernardino within 3 business days from receiving the signed Term Sheet.