|Property / Loan Information|
|Property Type||Single Family Residence|
|Lien Position||2nd TD|
|Broker Price Opin||$1,800,000|
|CLTV on ARV||62.50%|
|Loan Type||Business Purpose Cash Out|
|Amortization||Interest Only Due in 24 mos.|
|Guaranteed Int.||6 months|
Borrowers were highly experienced real estate agents specializing in high end residential estate properties in the Malibu area with several multi-million dollar listings. Borrower were seeking loan to invest in real estate business for a sophisticated marketing campaign on a number of current listings.
Subject was a 2 story, 4 bdrm/4.5 ba Single Family Residence located in Agoura Hills. The Property measured 3,818 sf of gross living area, and was situated on a 71,519 sf lot (the largest lot in the tract). The Property boasted panoramic views, high end landscaping, and pool/spa.
Mortgage Vintage, Inc. was able to fund this hard money loan in Agoura Hills, CA within 3 business days.