Recently Funded Hard Money Loan in Fullerton, CA for $415,000

Self-employed, repeat and successful Mortgage Vintage, Inc. Borrower, was seeking a business purpose cash out loan on multi-family property to purchase apartment building in Pomona.

Subject is a 10-Unit Multi-Family Property. The property has 6,500 net rentable area. The property has 2 free standing apartment buildings. Each building is 1-story with average quality class “D” construction. The property is comprised of six 1 bdrm/1 ba units and four 2 bdrm/1 ba units with rents ranging from $1,150 for the 1 bdrm/1 ba and $1,350 for the 2 bdrm/2 ba.  Units range from 600 sf for the 1 bdrm to 725 for the 2 bdrm.

Recent Transaction – $415,000 Business Purpose, Fullerton CA


Recently Funded Hard Money Loan in Yorba Linda for $60,000

 

Property / Loan Information
Property Type SFR
Lien Position 2nd TD
Loan Amount $60,000
BPO Value $375,000
Occup. Non-Owner
Lender Rate 10.50%
CLTV on BPO             58.13%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 24 mos. (Balloon)
Gtd. Interest               6 months

 

Loan Scenario:

Real Estate Investor and Partner who jointly own an Escrow Company looking for a 2nd TD to expand its business.  Subject Property is a 1,252 s.f. residential condo in Yorba Linda, CA, in excellent condition. Subject property is located near shopping, schools, regional parks and the 91 & 241 FWYS.  Mortgage Vintage, Inc., was able to fund this hard money loan in Yorba Linda, CA, w/in 3 business days from receiving the signed Term Sheet.


Recently Funded Hard Money Loan in Santa Ana for $60,000

Property / Loan Information
Property Type Multi-Fam
Lien Position 2nd TD
Loan Amount $60,000
BPO Value $810,000
Occup Non-Owner
Lender Rate 10.25%
CLTV on Purch 60.00%
Loan Type Business Purpose Purchase
Amortization Interest Only Due in 36 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Real Estate Investor and owner of multiiple rental properties looking to purchase subject multiplex for rental income.  Subject property is a 3,916 s.f. 6-unit multiplex sitting on a 23,441 s.f. lot with 9beds/6baths.  Borrower plans to upgrade the property and fix one of the buildings which sustained damage from a vehicle accident once he acquires ownership. 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.


Recently Funded Hard Money Loan in Anaheim for $150,000

Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $150,000
BPO Value $410,000
Occup Non-Owner
Lender Rate 9.00%
LTV on BPO Value 36.59%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 24 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Real Estate Investor looking for a cash-out to payoff business 1st TD. The subject property is a 1-story bungalow style edifice consisting of 976 s.f. on a 7,750 s.f. lot in Anaheim. Subject property is in fair condition with some repairs needed; the kitchen and bathroom are currently being remodeled. Subject property located near schools, shopping centers, parks and other commercial attractions. Mortgage Vintage, Inc. was able to fund this hard money loan in Anaheim, CA, within 3 business days from receiving the signed Term Sheet.


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 $790,000
Occup Non-Owner
Lender Rate 10.25%
CLTV on Est. Value 65.68%
Loan Type Business Purpose Cash-Out
Amortization Interest Only, 36 mos.
Guaranteed Int. 6 months

 

 

Loan Scenario:

Real Estate Investor looking for a business purpose cash-out loan to purchase additional investment property.  Subject property is a 3,789 s.f. 4-plex sitting on a large 14,100 s.f. lot with 10 bed/6 baths. Local attractions feature the Mile Square Golf Course, The Observatory, Yost Theater, Santa Ana Zoo and South Coast Plaza. 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.


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.


Recent Transaction in Tustin, CA – Business Purpose Purchase

Property / Loan Information
Property Type Single Family Residence
Lien Position  1st TD
Loan Amount $981,750
Appraised Value $1,305,900
Occup Non-Owner Occ.
Lender Rate 9.50%
LTV on Purchase Price 75.17%
Loan Type Business Purpose Purchase
Amortization Interest Only Due in3 years
Guaranteed Interest 6 months

 

 

 

Loan Scenario:

666 FICO Borrower and Real Estate Finance Professional purchased this beautiful brand new Single Family Residence in the new Stafford at Greenwood development in Tustin as a real estate investment.

Subject Property is the Harrison Model featuring 3,961 s.f. with 4 bedrooms + guest suite, office, bonus, 4.5 baths, Panoramic Style Doors, and Fireplace in Legacy Room, covered deck, 2-car garage plus storage.  Purchase Price is $1.3059 Mil. 12/4/15 completed BPO placed the property value at $1.50 Million.