| Property / Loan Information | |
| Property Type | SFR & Duplex |
| Lien Position | 2nd TD |
| Loan Amount | $263,000 |
| Appraised Value | $1.53Mil |
| Occup | Non-Owner Occ. |
| Interest Rate | 12.75% |
| CLTV on Est. Value | 60.00% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | 40 Year amort/due in 3 years |
| Guaranteed Interest | 6 months |
Loan Scenario:
682 Mid FICO Real Estate Investor and Rehabber looking for a cash-out to purchase additional investment properties. Property #1 currently rented for $3,300/mo., and Property #2 rented for $3,000/mo. Projected rental income for Property #3 is $2,200/mo. Properties had May 2014 Appraisal totaling $1.528Mil providing a 60.00% Combined Loan to Value. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.