Recently Funded Hard Money Loan in San Diego, CA for $206,000

Self-employed Borrower was seeking a business purpose cash out loan on an owner occupied SFR property to invest into borrowers business by paying off business debt and investing into marketing programs.

Subject is a 2 story, 4 bdrm/4.5 ba Single Family Residence located in the gated community of Torrey Highlands in the Carmel Valley community of San Diego.  The neighborhood is a well maintained, gated subdivision with guard station. Association fees are $370 per month with additional Mello Roos fees of $574 monthly.

Recent Transaction – $206,000 Business Purpose, San Diego, CA



Recently Funded Hard Money Loan San Diego, CA for $355,000

Self-employed borrower was seeking a business purpose cash-out loan to consolidated 1st and 2nd TD loans, payoff tax lien and invest in business operated at property.Subject consists of a Single Family Residence (SFR) and two light Industrial Buildings.  The SFR is a 1 story, 4 bdrm/1 full ba older SFR located in San Diego close to shopping, transportation and highway.  Value of the SFR by itself is $350K.  South industrial building is currently occupied by the owner that refurbishes artifacts. The back building is similar to a hangar and is currently leased to a marble and granite company.  Lot size has potential for additional units or continued use a light manufacturing.

Download Recent Transaction – $355,000 Business Purpose – San Diego, CA

Cash-Out Loan Funded – San Diego, CA

San Diego, CA

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Property / Loan Information
Property Type Land
Lien Position 1st TD
Loan Amount $270,000
Estimated Value $900,000
Occup Non-Owner Occ.
Interest Rate 13.50%
LTV on Est. Value 30.00%
Loan Type Business Purpose Cash Out
Amortization Interest Only due in 24 mos.
Guaranteed Interest 6 months

Loan Scenario:

Real Estate Investor looking for a cash-out on this 0.9 acre of un-improved and fully entitled multi-family residential land in San Diego. The site is fully entitled to build 13 units apartment development as the land is entitled by its RM 1-1 zoning.  The use of the land in this area comprised of a mixture of apartments, single family, mobile homes and condominiums. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.

$100,000 2nd Trust Deed at 12.50% – Carlsbad, CA

Carlsbad, CA – Funding Now

Property / Loan Information
Property Type SFR
Lien Position 2nd Trust Deed
Trust Deed Amount $100,000
BPO Value $1.10Mil
Amortization and Term 40 Year amort/due in 42 mos.
CLTV on Appraised Value 55.00%
Loan Type Business Purpose Cash-Out
Occupancy Owner Occupied
Rate for Investor 12.50%
Loan Maturity 2/01/2018


Fix and Flip Loan Funded – San Diego

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $549,600
After Repair Value $840,000
Est. Rent $2,429
Interest Rate 11.00%
LTV on ARV 65.42%
Loan Type Fix and Flip
Amortization 40 Year amort/due in 12 months
Guaranteed Interest 3 months

Mortgage Vintage, Inc. funds a $549,600 fix and flip loan in San Diego, CA