Los Angeles, CA
Download Recent Transaction – 2nd TD Business Purpose Cash-Out Loan Funded – Los Angeles, CA
| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 2nd TD |
| Loan Amount | $857,440 |
| ARV BPO Value | $3.35Mil |
| Occup | Non-Owner Occ. |
| Lender Rate | 10.75% |
| CLTV on BPO Value | 49.48% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | Interest Only Due in 12 mos. |
| Guaranteed Interest | 6 months |
Loan Scenario:
This property is a new 3,314 s.f., 5 bdr/5.5 bath SFR located in the West Side of Los Angeles. Owners have owned the house for over 10 years as a rental. Owners decided to remodel and add square footage and will sell the property upon completion. Property has new exterior/interior finishes, roof, garage, energy efficient doors/windows, plumbing, electrical, Control 4 HVAC and Smart Home system, high- end gourmet appliances, fixtures, modern landscaping and indoor/outdoor living area in the back yard. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.