Recently Funded Hard Money Loan in Dana Point for $2,100,000.00

Long time successful business owners and 705 and 728 credit score borrowers were looking to make a business purpose purchase with cross collateral 2nd TD of existing home.

Our subject property is a beautiful 4 BR / 3 BA, 4,263 sf home in Monarch Bay community of Dana Point.  This property is on a land lease and sits on  a 19,110 s.f. lot with incredible unobstructed ocean views to the west, north and south. The Cross Collateral (his current home that is for sale) is located within the same neighborhood and is a contemporary single-story 3,434 s.f. SFR with 4 bed/4 bath sitting on a 10,100 s.f. lot, which Borrower plans to sell within 11 months.  Both properties are within close proximity of award winning schools, recreation, shopping and restaurants with easy access to the beach and Pacific Coast HWY. Borrower is self-employed.

Recent Transaction – $2,100,000 Business Purpose Purchase with a Cross Collateral of a 2nd Trust Deed on 127 Monarch Bay Dr., Dana Point, CA


Recently Funded Hard Money Loan in Dana Point, CA for $500,000

Property / Loan Information
Property Type Single Family Residence
Lien Position  1st TD
Loan Amount $500,000
Broker Opinion $867,140
Occup Non Owner Occ.
Lender Rate 8.25%
LTV on BPO Value 57.66%
Loan Type Business Purpose Purchase
Amortization Interest Only Due in 36 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Borrower was seeking this Business Purpose Purchase loan to purchase home in Dana Point to fix up and rent.

Subject is a 1 story SFR with 4 bedrooms, 2 bathrooms.  Property is located in Dana Point, CA within walking distance of great schools.  The property measures 2,175 sf on a 7,504 sf lot.  The Property features a large lot, close to schools and minutes from Dana Point Harbor.

Mortgage Vintage, Inc. was able to fund this hard money loan in Dana, CA, within 3 business days.