Recently Funded Hard Money Loan in Simi Valley for $65,000

 

Property / Loan Information
Property Type SFR
Lien Position 2nd TD
Loan Amount $65,000
BPO Value $540,000
Occup. Non-Owner
Lender Rate 9.50%
LTV on BPO             12.04%
Loan Type Investment Prop. Cash-Out
Amortization Interest Only Due in 6/2017 (Balloon)
Gtd. Interest               6 months

 

 

Loan Scenario:

Real Estate Investor, current Borrower of Mortgage Vintage, Inc., and Contractor, with proven rehab fix and rent experience, is remodeling the subject property.

Subject Property is an SFR with 3 bedrooms, 2 baths, on a spacious 0.34-acre lot.  Borrower investing funds to rehab property for rental income.  Mortgage Vintage, Inc., was able to fund this hard money loan in Simi Valley, CA, w/in 3 business days from receiving the signed Term Sheet.


Rental Purchase Loan Funded – Simi Valley, CA

Simi Valley, CA
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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $350,000
Purchase Price $500,000
Occup Non-Owner Occ.
Interest Rate 10.75%
LTV on Purch. Price 70.00%
Loan Type Rental Purchase
Amortization 40 Year amort/due in 3 years
Guaranteed Interest 6 months


Loan Scenario:

Real Estate Investor, previous borrower of Mortgage Vintage, Inc. and licensed general Contractor with proven rehab fix and rent experience is purchasing this SFR for rental income.  Borrower is putting over $150k of own down payment cash into this purchase and over $30k into the rehab. Subject Property is a 3 bdr, 1.75 baths SFR sitting on a large 2 acre lot located in Simi Valley. Property overlooking the Arroyo with views of the Simi Valley hillsides with lots of potential for development. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.


$350,000 1st Trust Deed at 9.50% – Simi Valley, CA

Simi Valley, CA – Funding Now

Property / Loan Information
Property Type SFR
Lien Position 1st Trust Deed
Trust Deed Amount $350,000
Purchase Price $500,000
Amortization and Term 40 Year amort/due in 3 years
LTV on Purchase Price 70.00%
Loan Type Fix and Rent
Occupancy Non-Owner Occupied
Rate for Investor 9.50%
Loan Maturity 9/01/2015