| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $1,500,000 |
| Appraised Value | $2,500,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 11.75% |
| LTV on Appraised Value | 60.00% |
| Loan Type | Business Purpose Cash Out |
| Amortization | 40 Year amort/due in 12 mos. |
| Guaranteed Interest | 6 months |
Loan Scenario:
645 Mid FICO and Real Estate Investor looking for a cash-out on this non-owner fix and flip property to complete rehab, and to buy out the other owner in a currently owned Pharmacy used to supply medicine for borrower’s Pasadena based Assisted Living Facility. Subject Property is a beautiful 3 bed, 3 baths SFR with expansive views sitting on a large 19,071 sq. ft. lot in the foothills of Arcadia. Property was purchased with all cash in May 2014 for $1.45Mil. Borrower spending $450k on the significant Rehab. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.