Recently Funded Hard Money Loan in Victorville, CA for $70,000

Property / Loan Information
Property Type Residential Manufactured Home
Lien Position 1st TD
Loan Amount $70,000
Broker Price Opinion $123,000
Occup Non-Owner Occ.
Lender Rate 10.75%
LTV on BPO 56.91%
Loan Type Business Purpose Cash Out
Amortization Interest Only Due in 36 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Real Estate Investor looking to purchase this Residential Manufactured Home for rental income. Subject Property is a Single Family Manufactured Home built in 1988 with 3 bedrooms, 2 full baths and 1,188 square feet of living space in Victorville, CA. Manufactured Home has permanent foundation permit and sits on a large 1.03 acre lot. Property is in a rural and suburban area, close to grocery stores and parks.

Mortgage Vintage, Inc. was able to fund this hard money loan in Victorville, CA within 3 business days from receiving the signed Term Sheet.