Recently Funded Hard Money Loan in Simi Valley for $65,000

 

Property / Loan Information
Property Type SFR
Lien Position 2nd TD
Loan Amount $65,000
BPO Value $540,000
Occup. Non-Owner
Lender Rate 9.50%
LTV on BPO             12.04%
Loan Type Investment Prop. Cash-Out
Amortization Interest Only Due in 6/2017 (Balloon)
Gtd. Interest               6 months

 

 

Loan Scenario:

Real Estate Investor, current Borrower of Mortgage Vintage, Inc., and Contractor, with proven rehab fix and rent experience, is remodeling the subject property.

Subject Property is an SFR with 3 bedrooms, 2 baths, on a spacious 0.34-acre lot.  Borrower investing funds to rehab property for rental income.  Mortgage Vintage, Inc., was able to fund this hard money loan in Simi Valley, CA, w/in 3 business days from receiving the signed Term Sheet.