Recently Funded Hard Money Loan in Irvine, CA for $246,100

Property / Loan Information
Property Type Single Family Residence
Lien Position 2nd TD
Loan Amount $246,100
Broker Price Opinion $1.234Mil
Occup Owner Occ.
Lender Rate 9.50%
CLTV on BPO 65.00%
Loan Type Business Purpose Cash Out
Amortization Interest Only Due in 24 mos.
Guaranteed Int. 5 months

 

 

 

Loan Scenario:

Self-employed Borrower was seeking a business purpose investment cash-out refinance to invest in Borrower’s technology business and payoff existing two existing liens.  Subject is a 2-story, 5 bdrm/3ba SFR, 3,200 S.F., situated on a .0955 acre lot in Irvine, CA . Property is located in very close proximity to UC Irvine, University Town Center, Turtle Rock, John Wayne Airport, parks and shopping mall. Property features a large backyard and large patio.

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