Recently Funded Hard Money Loan in Long Beach, CA $158,000

Property / Loan Information
Property Type Duplex
Lien Position 2nd TD
Loan Amount $158,000
BPO Value $800,000
Occup Non-Owner Occ.
Lender Rate 9.00%
CLTV on BPO 36.63%
Loan Type Consumer Cash-Out
Amortization Interest Only Due in 36 mos.
Guaranteed Int. 6 Months







Loan Scenario:

Borrower sought a consumer cash-out to use for personal purposes.  Borrower has owned the property since 1998.

Subject is a 1 story duplex with 3 bdrm/1 bath in one unit and 2 bdrm/2 bath in the second unit.  Property is located in nice part of Long Beach.  One unit measures 1,374 sf and the other is 1,240 sf of gross living area, and is situated on a .15-acre lot.

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