Recently Funded Hard Money Loan in San Bernardino, CA for $130,000.00

787 FICO score borrower and real estate investor was seeking a business purpose purchase loan to fix-and-flip this single family residence in San Bernardino County.  Borrower was currently in escrow with purchase price $20,000 less than the BPO As-Is value.

Subject is a single-story SFR home sitting on a large 7,000 sqft lot.  The home is 768 sqft and features 5 rooms with 2 BR and 1 BA and a patio. Subject is conveniently located between Route 66 and Interstate 215.  Schools, shopping, restaurants, parks and medical facilities are all a short distance from the subject property.

Recent Transaction – $130,000 Business Purpose Purchase, San Bernardino CA


Recently Funded Hard Money Loan in San Bernardino for $110,500

Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $110,500
BPO Value $170,000
Occup Non-Owner Occ.
Lender Rate 10.00%
LTV on BPO Value 65.00%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 36 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Self-Employed Borrower looking for cash-out to complete remodel on subject property and purchase additional investment property. Subject property is a 7,750 s.f. fenced lot (0.18 acre) with 4 bedrooms/2 bath SFR located in the Inland Empire. Subject property is located near schools, parks, shopping centers and the 215 and 210 freeways.  Owner has owned the house as a rental and decided to remodel and add square footage. Mortgage Vintage, Inc. was able to fund this hard money loan in San Bernardino within 3 business days from receiving the signed Term Sheet.


$58,500 1st Trust Deed at 10.00% – San Bernardino, CA

San Bernardino, CA – Funding Now

Property / Loan Information
Property Type SFR
Lien Position 1st Trust Deed
Trust Deed Amount $58,500
BPO Value $90,000
Amortization and Term Interest Only due in 12 mos.
LTV on BPO Value 65.00%
Loan Type Business Purpose Cash-Out
Occupancy Non-Owner Occupied
Rate for Investor 10.00%
Loan Maturity 11/01/2015

 


Rental Purchase Loan Funded – San Bernardino

San Bernardino, CA
san bernardino photosan bernardino map

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $80,250
BPO Value $140,000
Occup Non-Owner Occ.
Interest Rate 11.25%
LTV on BPO Value 57.32%
Loan Type Fix and Rent
Amortization 40 Year amort/due in 3 years
Guaranteed Interest 6 months


Loan Scenario:

649 FICO Real Estate Investor looking to purchase SFR for rental income. Borrower is putting in over $20k of own cash to purchase the property. Subject Property is a 2 bdr, 1 bath Ranch-style SFR located on a quiet neighborhood of San Bernardino.  Property is conveniently located close to the 210 and 215 FWY.  Borrower is putting in approx. $5k to upgrade the property with new paint, carpet and kitchen cabinets.  Property will be rented for $900/mo. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.

 


$80,250 1st Trust Deed at 9.50% – San Bernardino, CA

San Bernardino, CA – Funding Now

Property / Loan Information
Property Type SFR
Lien Position 1st Trust Deed
Trust Deed Amount $80,250
Purchase Price $107,000
Amortization and Term 40 Year amort/due in 3 years
LTV on Purch. Price 75.00%
Loan Type Fix and Rent
Occupancy Non-Owner Occupied
Rate for Investor 9.50%
Loan Maturity 5/01/2017

 


Rental Purchase Loan Funded – San Bernardino

San Bernardino, CA

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $86,250
Purchase Price $115,000
Occup Non-Owner Occ.
Interest Rate 11.25%
LTV on Purch. Price 75.00%
Loan Type Rental Purchase
Amortization 40 Year amort/due in 3 years
Guaranteed Interest 6 months



Loan Scenario:

Real Estate Investor looking to purchase this SFR for rental income.  Borrower is putting over $29,000 own cash to purchase the property. He plans to repair and hold until he can obtain a conventional refinance. Property is a 3 bed, 1 bath SFR sitting on a large 8,190 sq. ft. lot with Mountain View.  Estimated rent is $1,088/mo.  Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.