Recently Funded Hard Money Loan in Los Angeles for $177,500

Property / Loan Information
Property Type  SFR
Lien Position  1st TD
Loan Amount $177,500
BPO Value $355,000
Occup Non-Owner
Lender Rate 9.00%
LTV on BPO Value 50%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 24 mos.
Guaranteed Int. 6 months

 

Loan Scenario:

Real Estate Investor looking for a business purpose cash-out to finance new business venture.  Subject property is a 1,281 s.f., 3 bed, 1.5 baths SFR located in Los Angeles.  The property has been updated within the last 2 years with newer interior/exterior paint, trimming, siding and window/door frames.  Mortgage Vintage, Inc., was able to fund this hard money loan in Los Angeles, CA, within 3 business days from receiving the signed Term Sheet.