| Property / Loan Information | |
| Property Type | SF Condo |
| Lien Position | 2nd TD |
| Loan Amount | $150,000 |
| BPO Value | $569,900 |
| Occup | Owner |
| Lender Rate | 10.50% |
| CLTV | 45.27% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | Interest Only Due 60 mos. |
| Guaranteed Int. | 6 months |
Loan Scenario:
Self-Employed borrower who owns & operates a theatrical company is seeking a 2nd TD to expand his business & increase working capital. Subject is an SFR measuring 1,394 s.f. of gross living area situated on a 7,398 s.f. lot. Subject is in average condition; interior has minor deferred maintenance. Subject features a living room w/dining area, kitchen & breakfast area, & a den w/a fireplace. Mortgage Vintage, Inc. was able to fund this hard money loan in Van Nuys, CA, within 3 business days from receiving the signed Term Sheet.