|Property / Loan Information|
|Property Type||4 Unit Multi-Family|
|Lien Position||2nd TD|
|Broker Price Opinion||$1.62Mil|
|CLTV on BPO||9.32%|
|Loan Type||Business Purpose Cash Out|
|Amortization||Interest Only Due in 60 mos.|
|Guaranteed Int.||12 months|
Self-employed Borrower seeking a business purpose investment cash out to invest in Borrower’s truck repair and leasing business.
Subject was a 2-story, 4 unit multi-family property 1.5 miles from the ocean. Property measures 4,400 sf of gross living area, and is situated on a .191 acre lot. Property is located next to Huntington Harbor in close proximity to many shops, entertainment and the ocean. All the units were well maintained. .
Mortgage Vintage, Inc. was able to fund this hard money loan in Huntington Beach, CA within 3 business days from receiving the signed Term Sheet.