Recently Funded Hard Money Loan in Ladera Ranch, CA for $350,000

Recent Transaction – $350,000 Business Purpose, Ladera Ranch, CA

Real Estate investor and business owner was seeking a cash-out 2nd mortgage for working capital for his custom home building business, SC Homes.

Subject Property is a beautiful 2-story, 5 BR / 5 BA contemporary SFR situated in the Covenant Hills area of Ladera Ranch, CA.  Subject has 6,700 sqft of living space and is situated on a 10,504 sqft lot.  The subject features professional hard and soft landscape, with California room, pool, spa, built in bbq and sand box. The interior features upgraded tile, wood, and carpet flooring, custom window covering, custom built-in cabinets through-out, custom lighting, and paint. Kitchen features center island, quartz counter tops and high-end appliances and lighting. Subject property also features a movie theatre, exercise room, craft room and whole house automation unit.


Rental Purchase Loan Funded – Ladera Ranch, CA

Ladera Ranch, CA

half moon trail map 2

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Property / Loan Information
Property Type Residential Condo
Lien Position 1st TD
Loan Amount $390,000
Purchase Price $600,000
Occup Non-Owner Occ.
Interest Rate 10.00%
LTV on Purch. Price 65.00%
Loan Type Rental Purchase
Amortization 40 Year amort/due in 3 years
Guaranteed Interest 6 months

Loan Scenario:

Real Estate Investor and previous borrower of Mortgage Vintage, Inc. purchasing this Residential Condo for rental income. Borrower is bringing in over $200k of own cash into this investment. Subject Property is a spacious 1,969 s.f. 2 level Condo with 3 bdr, 2.5 baths situated in the Trails community of Oak Knoll, Ladera Ranch.  Property has spacious back yard which includes a patio & grass area, upgraded kitchen & baths with granite counters, crown moldings and plantation shutters throughout. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.

1st Trust Deed Purchase Loan Funded

Ladera Ranch, CA

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
1st TD Loan Amount $283,400
As Is Valuation $436,000
Rent Estimate $2,665/mo
LTV on Purchase 65.00%
Loan Type Investment Purchase
Amortization 40 Year amort/due in 3 yr
Prepay Penalty 6 months