Property / Loan Information
Property TypeSFR
Lien Position2nd TD
Loan Amount$60,000
BPO Value$375,000
Occup.Non-Owner
Lender Rate10.50%
CLTV on BPO            58.13%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only Due in 24 mos. (Balloon)
Gtd. Interest              6 months

 

Loan Scenario:

Real Estate Investor and Partner who jointly own an Escrow Company looking for a 2nd TD to expand its business.  Subject Property is a 1,252 s.f. residential condo in Yorba Linda, CA, in excellent condition. Subject property is located near shopping, schools, regional parks and the 91 & 241 FWYS.  Mortgage Vintage, Inc., was able to fund this hard money loan in Yorba Linda, CA, w/in 3 business days from receiving the signed Term Sheet.