Recent Transaction in Los Angeles – Business Purpose Cash-Out

Property / Loan Information
Property Type Residential Duplex
Lien Position 2nd TD
Loan Amount $140,000
Estimated Valuation $700,000
Occup Non-Owner Occ.
Lender Rate 11.00%
LTV on Est. Value 64.42%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 12 mos.
Guaranteed Interest 6 months




Loan Scenario:

Borrower looking for a cash-out to purchase additional investment properties. This subject property is a multi-level style Residential Duplex with 6 bedrooms, 4 bathrooms sitting on a large 7,598 sf lot. Property features hardwood floors throughout with tiled kitchen and dining area. Property has 4 attached enclosed garages. Property is fully occupied and currently rented for $3,600/month. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.