| Property / Loan Information | |
| Property Type | Condo |
| Lien Position | 1st TD |
| Loan Amount | $55,000 |
| Est. Valuation | $102,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 11.75% |
| LTV on Est. Value | 53.92% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | 30 Year amort/due in 12 months |
| Guaranteed Interest | 6 months |
Loan Scenario:
Real Estate Investor/Rehabber and previous borrower of Mortgage Vintage, Inc. looking for a cash-out to purchase additional investment properties for fix and flip. Subject Property is a lower level Studio Condominium located in Rancho Cucamonga close to the 210 FWY with access to the Association swimming pool, tennis courts and onsite laundry facility. Bathroom, balcony and kitchen have recently been upgraded. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.