Recently Funded Hard Money Loan in Fontana for $189,000

Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $189,000
Purch. Price $270,000
Occup Non-Owner Occ.
Lender Rate 9.25%
LTV on Purch Price 70.00%
Loan Type Business Purpose Purchase
Amortization Interest Only Due in 24 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Real Estate Investor who is employed as a Marketing Director for a realty company in Van Nuys is seeking a hard money loan in order to purchase the subject property as an investment. Subject property is a 1,495 S.F. SFR built on a 7,800 S.F. lot in Fontana, CA.  The garage is 422 S.F. and is attached to the subject and accommodates 2 vehicles.  The subject has 4 beds/2baths and is located in a suburban area of Fontana. Subject is currently rented for $2,000/mo.  Mortgage Vintage, Inc., was able to fund this hard money loan in Fontana, CA, within 3 business days from receiving the signed Term Sheet.