Recently Funded Hard Money Loan in Indio for $102,700.00

Real estate investor and long-time Realtor was seeking a new cash-out 1st TD to make improvements to the subject property and other investment properties owned by the borrower.

Subject is a single-level condo sitting on a 2,614 sf lot.  The home itself is 977 sf and features 6 rooms with 2 BR and 1.5 BA with a patio and 1-car covered carport.  The subject is conveniently located near I-10 and HWY 111.  Schools, shopping, recreation, restaurants, parks and medical facilities are all a short distance from the property.  Subject property rents for $1,500/month.

Recent Transaction – $102,700 Business Purpose Cash Out, Indio, CA

Recently Funded Hard Money Loan in Indio for $75,000


Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $75,000
BPO Value $225,000
Occup Owner
Lender Rate 9.25%
LTV on BPO Value 33.33%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 60 mos.
Guaranteed Int. 6 months




Loan Scenario:

Self-Employed Borrower looking for business purpose cash-out to upgrade and purchase new salon equipment for her current Hair Salon business. Subject property is a 1,573 s.f. SR sitting on a large 8,712 s.f. lot located in Indio (Inland Empire) near casinos, golf courses, resorts and the 10 FWY. Mortgage Vintage, Inc., was able to fund this hard money loan in Indio, CA, within 3 business days from receiving the signed Term Sheet.