| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $250,000 |
| BPO Value | $440,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 10.99% |
| LTV on BPO Value | 56.82% |
| Loan Type | Business Purpose Cash Out |
| Amortization | Interest Only due in 12 mos. |
| Guaranteed Interest | 6 months |
Loan Scenario:
730 Mid FICO Real Estate Investor and previous borrower of Mortgage Vintage, Inc. looking for a cash-out to purchase additional investment properties. Subject Property is a spacious 4 bed, 2 baths 2-story SFR centrally located in the heart of Long Beach. Property has large backyard and was recently upgraded; has wood floorings and carpet, granite kitchen counter and updated bathrooms. Property is currently rented for $1,200/mo. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.