Cash-Out Loan Funded – Los Angeles, CA

Los Angeles, CA

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $1.15Mil
Appraised Value $3.6Mil
Occup Owner Occ.
Interest Rate 9.50%
LTV on Appraised Value 31.94%
Loan Type Business Purpose Cash-Out
Amortization Interest Only due in 3 years
Guaranteed Interest 3 months

Loan Scenario:

627 Mid FICO and Business Owners looking for a business purpose cash-out on this SFR in Los Angeles to payoff Business Purpose 1st TD and to help finance inventory for  family interior and jewelry design business. Subject Property is a large 4 bed, 4 baths high end 3,367 s.f. SFR located in Los Angeles (Bel-Air) with Mountain Views.  Property is sitting on a large 21,025 s.f. lot in a secluded area with granite countertop upgrades, stylish patio with large pool and Jacuzzi. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.