Pasadena, CA

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Property / Loan Information
Property TypeSFRs & Duplex
Lien Position1st TD
Loan Amount$1,386,000
Appraised Value$2,310,000
OccupNon-Owner Occ.
Interest Rate10.75%
LTV on Appraised Value60.00%
Loan TypeBusiness Purpose Cash Out
Amortization40 Year amort/due in 3 years
Guaranteed Interest6 months


Loan Scenario:

645 Mid FICO and Real Estate Investor looking for a cash-out on these 5 rental properties to expand on the current assisted living facility.  Cash-out being used to purchase a Pharmacy for borrower’s adjacent Assisted Living Facility. All 5 properties are within walking distance of each other.  Properties are currently rented for a total of $11,100/mo. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.