Recently Funded Hard Money Loan in Van Nuys for $281,240.00

Real estate investor, 20-year insurance broker and 762 mid-fico score borrower was seeking a business purpose purchase loan to Fix-&-Flip this Short Sale condo in LA County. Borrower was in escrow for $50,000 under the BPO “As-Is” value.

Our subject property is a two-story end-unit condo in Van Nuys in the San Fernando Valley. The home is 1,378sfand features 5rooms with 3BR and 3BA, 2-car detached garage, patio, balcony and community pool and spa. The subject property is conveniently located near I-405 and 101 FWY. Schools, shopping, restaurants, parks, recreation, and, medical facilities are all within a short distance of the property.

Recent Transaction – $281,240 Business Purpose Purchase, Van Nuys, CA


Recently Funded Hard Money Loan in Van Nuys, CA for $289,000

Self-Employed Borrower who owns & operates a Theatrical Company, and successful Mortgage Vintage borrower, was looking for a 2nd TD to expand its business & for working capital.Subject Property is a 1,394 s.f. SFR in the Valley Glen neighborhood of Van Nuys, CA, sitting on a 7,398 s.f. lot.  Subject is adjacent to schools/college and just minutes away from trendy shopping, restaurants and movie theatres. Subject features a living room w/ dining area, kitchen & breakfast area, 3 bedrooms w/1 bath on one side of the house, a den w/a fireplace; off of the den is the master bed & a 3/4 bath off of a laundry room.

Download Recent Transaction – $289,000 Business Purpose, Van Nuys CA

 


Recently Funded Hard Money Loan in Van Nuys for $150,000

Property / Loan Information
Property Type SF Condo
Lien Position  2nd TD
Loan Amount $150,000
BPO Value $569,900
Occup Owner
Lender Rate 10.50%
CLTV 45.27%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due 60 mos.
Guaranteed Int. 6 months

 

 

 

Loan Scenario:

Self-Employed borrower who owns & operates a theatrical company is seeking a 2nd TD to expand his business & increase working capital.  Subject is an SFR measuring 1,394 s.f. of gross living area situated on a 7,398 s.f. lot. Subject is in average condition; interior has minor deferred maintenance.  Subject features a living room w/dining area, kitchen & breakfast area, & a den w/a fireplace. Mortgage Vintage, Inc. was able to fund this hard money loan in Van Nuys, CA, within 3 business days from receiving the signed Term Sheet.