Recently Funded Hard Money Loan in Thousand Oaks, CA for $55,000

Property / Loan Information
Property Type Single Family Residence
Lien Position 2nd TD
Loan Amount $55,000
Broker Price Opinion (BPO) $680,000
Occup Owner Occ.
Lender Rate 10.00%
LTV on Appraisal 8.08%
Loan Type Business Purpose Cash Out
Amortization Interest Only Due in 48 mos.
Guaranteed Int. 12 months




Loan Scenario:

Self-employed Borrower seeking a business purpose cash out to expand his 35-year-old software business.

Subject is a detached SFR located in the Shadow Oaks tract of central Thousand Oaks. Subject overall condition is good. Surrounding properties exhibit generally good pride of ownership, and are well maintained. Subject in generally good condition overall. A rear addition off the dining area is in place (approx. 275 sq. ft.) – currently in use as a home office.

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