Property / Loan Information
Property TypeSingle Family Residence
Lien Position2nd TD
Loan Amount$55,000
Broker Price Opinion (BPO)$680,000
OccupOwner Occ.
Lender Rate10.00%
LTV on Appraisal8.08%
Loan TypeBusiness Purpose Cash Out
AmortizationInterest Only Due in 48 mos.
Guaranteed Int.12 months

 

 

 

Loan Scenario:

Self-employed Borrower seeking a business purpose cash out to expand his 35-year-old software business.

Subject is a detached SFR located in the Shadow Oaks tract of central Thousand Oaks. Subject overall condition is good. Surrounding properties exhibit generally good pride of ownership, and are well maintained. Subject in generally good condition overall. A rear addition off the dining area is in place (approx. 275 sq. ft.) – currently in use as a home office.

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