| Property / Loan Information | |
| Property Type | Residential Tri-Plex |
| Lien Position | 2nd TD |
| Loan Amount | $85,000 |
| BPO Value | $1,200,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 13.25% |
| CLTV on BPO Value | 55.33% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | 40 Year amort/due in 2 years |
| Guaranteed Interest | 6 months |
Loan Scenario:
Real Estate Investor looking for cash out to upgrade the subject property including landscaping, paving and new laundry facilities. Property is a 6 bdr, 3 baths Tri-Plex located in Santa Barbara within walking distance from the beach, shopping, transportation and schools. Borrower plans to provide new landscaping on the property, repave the parking area and include onsite laundry which will improve and add value and more cash flow to the subject property.Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.