Recently Funded Hard Money Loan in San Diego for $448,500.00

712 Fico score borrower, Real estate investor and 11-year President & CEO of Howell Real Estate Management was seeking a business purpose purchase loan to purchase this investment property in San Diego.

Our subject property is a single-story ground level condominium.  The home is 1,294 SF and features 4 rooms with 2 BR and 2 BA.  The property features a balcony with views of the bay and surrounding area. Subject is situated in the La Playa neighborhood of San Diego and is just a few minutes’ walk from Shelter Island, The Village and numerous local yacht clubs.  Recreations, shopping, schools and medical facilities are a short distance away.

Recent Transaction – $448,500 Business Purpose Purchase Fix and Flip, San Diego, CA, 92106


Recently Funded Hard Money Loan in San Diego, CA for $310,000.00

Real Estate Investor and 15-year employee with the City of San Diego was seeking a business purpose cash-out 1st TD of this non-owner occupied SFR.  The property owner inherited this San Diego home in May, 2017.  The loan proceeds will be used to help prepare the home for sale, payoff existing 1st and 2nd, acquire an investment property in the Temecula area and pay property taxes.

Subject is two-story SFR situated on a 5,193 sqft lot in the Alta Vista area of Encanto, 6-miles from downtown San Diego. Property has 10 rooms with 4 BR and 2.5 BA and features a large bonus room, 2 covered patio areas and 2 storage sheds.  The property is located a few blocks from 805 FWY and close to schools, shopping, restaurants and parks.

Recent Transaction – $310,000 Business Purpose Cash Out Refi, San Diego

 


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