Recently Funded Hard Money Loan in Santa Ana for $143,750

Property / Loan Information
Property Type 4-plex
Lien Position  2nd TD
Loan Amount $143,750
BPO Value $775,000
Occup Non-Owner
Lender Rate 10.25%
CLTV on Est. Value 65%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 36 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Real Estate Investor looking for a business purpose cash-out to purchase additional investment property.  Subject property is a 3,600 s.f. 4-plex sitting on a 7,405 s.f. lot with 11 bed/6 baths. Property is located in Santa Ana near schools, shopping and restaurants.  Local attractions feature the Yost Theater, Santa Ana Zoo, The Observatory and Main Place Mall with easy access to the 5 and 55 freeways.  All of the units are occupied.  Mortgage Vintage, Inc. was able to fund this hard money loan in Santa Ana, CA, within 3 business days from receiving the signed Term Sheet.