Corona Del Mar, CA

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Property / Loan Information
Property TypeSFR
Lien Position2nd TD
Loan Amount$200,00
AVM Valuation$2.51Mil
OccupNon-Owner Occ.
Interest Rate12.50%
CLTV on AVM Value49.00%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only due in 12 mos.
Guaranteed Interest3 months

Loan Scenario:

Real Estate Investor and owner of a privately held employer/employee protection company looking for cash out to finance growth of the business. Subject Property is a beautiful 4 bdr, 2.5 baths SFR on a 9,148 s.f. lot located in the Irvine Terrace community in Corona Del Mar, CA. Property has open floor plan with French doors in all 4 bedrooms; tiled throughout the family room, kitchen and bathrooms.  Property is currently rented for $7k/mo. and listed on MLS for $2.4Mil. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.