El Monte, CA
|Property / Loan Information|
|Lien Position||1st TD|
|LTV on Est Value||32%|
|Loan Type||Business Purpose Cash Out|
|Amortization||Interest Only due in 3 years|
|Guaranteed Interest||180 Days|
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.