Recently Funded Hard Money Loan in Indio for $75,000

 

Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $75,000
BPO Value $225,000
Occup Owner
Lender Rate 9.25%
LTV on BPO Value 33.33%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 60 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Self-Employed Borrower looking for business purpose cash-out to upgrade and purchase new salon equipment for her current Hair Salon business. Subject property is a 1,573 s.f. SR sitting on a large 8,712 s.f. lot located in Indio (Inland Empire) near casinos, golf courses, resorts and the 10 FWY. Mortgage Vintage, Inc., was able to fund this hard money loan in Indio, CA, within 3 business days from receiving the signed Term Sheet.