| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 2nd TD |
| Loan Amount | $400,000 |
| Estimated Value | $3.8Mil |
| Occup | Non-Owner Occ. |
| Interest Rate | 11.00% |
| CLTV on Est. Value | 50.00% |
| Loan Type | Business Purpose Cash Out |
| Amortization | Interest Only due in 12 mos. |
| Guaranteed Interest | 4 months |
Loan Scenario:
690 Mid FICO Borrower and Real Estate Investor looking for cash out to complete rehab on the subject property and additional investment properties. Property is a 5 bdr, 3 baths SFR located in Newport Beach, CA. Borrower purchased the property in 2013 for $2.3Mil with $800k of own money for down payment. Borrower has already put in another $500k of own money into the rehab and is looking for a cash out to complete the rehab. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.