Recently Funded Hard Money in Carlsbad, CA for $51,000

Property / Loan Information
Property Type Residential Townhouse
Lien Position 2nd TD
Loan Amount $51,000
AVM Value $380,000
Occup Non-Owner Occ.
Lender Rate 10.75%
CLTV on AVM Value 70.04%
Loan Type Business Purpose Cash Out
Amortization Interest Only Due in 36 mos.
Guaranteed Int. 6 months




Loan Scenario:

Analytical Manager/Borrower and Investor obtained a business purpose cash-out on this rental property to finance new business venture. Subject Property is a 2 bed/2baths, 1,000 S.F. ranch-style Townhouse located in a suburban area of Carlsbad. Property features open living area, community pool with carpet and tile flooring throughout. Property is within proximity of grocery stores, restaurants and parks.  Property is currently rented for $1,750/mo. Mortgage Vintage, Inc., was able to fund this hard money loan in Carlsbad, CA, within 3 business days from receiving the signed Term Sheet.