Recently Funded Hard Money Loan in La Quinta for $211,250

 

Loan Type Business Purpose Cash-Out

Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $211,250
Lender Est. Value $325,000
Occup. Non-Owner
Lender Rate 9.25%
LTV on Lender Est. Value             65.00%
Amortization Interest Only Due in 36 mos. (Balloon)
Borrower FICO               781

 

 

Loan Scenario:

781 MID FICO Real Estate Investor looking for a cash-out loan to make repairs on subject property. The subject property is 1,701 s.f. on a 10,019 s.f. lot located in the high desert area of La Quinta.  Subject property is located to close proximity of hiking trails and mountain views and near many attractions including casinos, golf courses, high-end resorts, a regional airport and various highways like the 74, 111, 86 and 10 FWYS.
The subject property is in need of deferred maintenance with landscaping of which borrower intends to repair with loan amount requested. Property is currently rented for $2,000/mo.
Mortgage Vintage, Inc., was able to fund this hard money loan in La Quinta, CA, within 3 business days from receiving the signed Term Sheet.


Recently Funded Hard Money Loan in Riverside for $39,000

 

Property / Loan Information
Property Type SFR
Lien Position 2nd TD
Loan Amount $39,000
BPO Value $312,500
Occup Non-Owner
Lender Rate 11.00%
CLTV on BPO Value 60.16%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 60 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Real Estate Investor looking for a cash-out to make repairs on subject property. The subject property is a 1-story 1,000 S.F. SFR built on a 10,890 S.F. lot located in Riverside.  The subject property is located within close proximity of the Galleria at Tyler Mall, Castle Amusement Park and the 91 FWY. Mortgage Vintage, Inc., was able to fund this hard money loan in Riverside, CA, within 3 business days from receiving the signed Term Sheet.


Recently Funded Hard Money Loan in Indio for $75,000

 

Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $75,000
BPO Value $225,000
Occup Owner
Lender Rate 9.25%
LTV on BPO Value 33.33%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 60 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Self-Employed Borrower looking for business purpose cash-out to upgrade and purchase new salon equipment for her current Hair Salon business. Subject property is a 1,573 s.f. SR sitting on a large 8,712 s.f. lot located in Indio (Inland Empire) near casinos, golf courses, resorts and the 10 FWY. Mortgage Vintage, Inc., was able to fund this hard money loan in Indio, CA, within 3 business days from receiving the signed Term Sheet.


Recent Transaction in Lake Elsinore – Business Purpose Cash-Out

Property / Loan Information
Property Type Condo, PUD
Lien Position 1st TD
Loan Amount $175,500
Est. Valuation $280,000
Occup Non-Owner Occ.
Lender Rate 9.25%
LTV on Est. Value 62.67%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 36 mos.
Guaranteed Interest 6 months

 

 

 

Loan Scenario:

Real Estate Investor and Coldwell Banker Residential Real Estate Broker in Lake Elsinore doing a Cash-Out refinance on two rental properties in Lake Elsinore. Each Property has 2 bdr and 2 bth and are part of the nice Condominium community with a Community pool and healthy HOA. The well maintained properties have tile floors, single level, 2-Car attached garage, walking distance to elementary school and parks, and are conforming with other housing in the area. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.


$201,500 1st Trust Deed at 10.50% – Norco, CA

Norco, CA – Funding Now

Property / Loan Information
Property Type SFR
Lien Position 1st Trust Deed
Trust Deed Amount $201,500
BPO Value $296,000
Amortization and Term Interest Only due in 12 mos.
LTV on BPO Value 68.07%
Loan Type Business Purpose Cash-Out
Occupancy Non-Owner Occupied
Rate for Investor 10.50%
Loan Maturity 11/01/2015

 


$272,350 1st Trust Deed at 9.25% – Rancho Mirage, CA

Rancho Mirage, CA – Funding Now

Property / Loan Information
Property Type SFR
Lien Position 1st Trust Deed
Trust Deed Amount $272,350
Purchase Price $419,000
Amortization and Term 40 Year amort/due in 2 years
LTV on Purch. Price 65.00%
Loan Type Rental Purchase
Occupancy Non-Owner Occupied
Rate for Investor 9.25%
Loan Maturity 8/01/2016

 


Rental Property Purchase Loan Funded – La Quinta

La Quinta, CA
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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $302,250
Purchase Price $465,00
Occup Non-Owner Occ.
Interest Rate 10.75%
LTV on Purch. Price 70.00%
Loan Type Rental Purchase
Amortization 30 Year amort/due in 12 months
Guaranteed Interest 3 months

 

Loan Scenario:
Real Estate Investor, Contractor and Owner of a decorative concrete construction company looking to purchase SFR for investment. Borrower is putting over $200k of own cash into this investment. Property is a 4 bed, 3.5 baths SFR in the gated community of Rancho Santana city of La Quinta. Property is sitting on a large 10,454 sq. ft. lot with granite counter kitchen, bar area, 2 fireplaces and side porch with a view.
Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.