Recently Funded Hard Money Loan in Santa Ana for $143,750

Property / Loan Information
Property Type  4-plex
Lien Position  2nd TD
Loan Amount $143,750
BPO Value $790,000
Occup Non-Owner
Lender Rate 10.25%
CLTV on Est. Value 65.68%
Loan Type Business Purpose Cash-Out
Amortization Interest Only, 36 mos.
Guaranteed Int. 6 months

 

 

Loan Scenario:

Real Estate Investor looking for a business purpose cash-out loan to purchase additional investment property.  Subject property is a 3,789 s.f. 4-plex sitting on a large 14,100 s.f. lot with 10 bed/6 baths. Local attractions feature the Mile Square Golf Course, The Observatory, Yost Theater, Santa Ana Zoo and South Coast Plaza. All of the units are occupied. Mortgage Vintage, Inc., was able to fund this hard money loan in Santa Ana, CA, within 3 business days from receiving the signed Term Sheet.