Property / Loan Information
Property TypeLand
Lien Position1st TD
Loan Amount$150,000
Appraised Value$255,000
OccupNon-Owner Occ.
Interest Rate11.00%
LTV on
Loan TypeBusiness Purpose Construction
AmortizationInterest Only Due in 24 months
Guaranteed Interest6 months




Loan Scenario:
Real Estate Investor, General Contractor and previous borrower of Mortgage Vintage looking for a construction loan to build new SFR in Perris, CA. Borrower purchased the land in Feb 2015 for $49k. He plans to build a 3 bed, 2 baths, 1,432 s.f. SFR on the ½ acre conforming parcel. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.