| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $120,000 |
| Est Value | $375,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 10.75% |
| LTV on Est Value | 32% |
| Loan Type | Business Purpose Cash Out |
| Amortization | Interest Only due in 3 years |
| Guaranteed Interest | 180 Days |
Loan Scenario:
638 Mid FICO Real Estate Investor and previous borrower of Mortgage Vintage looking for business purpose cash-out on owned free and clear SFR to purchase additional real estate investments. Subject Property is a 2 bed/1 bath SFR on a large 6,436 s.f. lot in El Monte, CA. Property is conveniently located next to the 60 FWY with nearby schools and restaurants. Property is currently rented for $1,600/mo. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.