| Property / Loan Information | |
| Property Type | Land |
| Lien Position | 1st TD |
| Loan Amount | $270,000 |
| Estimated Value | $900,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 13.50% |
| LTV on Est. Value | 30.00% |
| Loan Type | Business Purpose Cash Out |
| Amortization | Interest Only due in 24 mos. |
| Guaranteed Interest | 6 months |
Loan Scenario:
Real Estate Investor looking for a cash-out on this 0.9 acre of un-improved and fully entitled multi-family residential land in San Diego. The site is fully entitled to build 13 units apartment development as the land is entitled by its RM 1-1 zoning. The use of the land in this area comprised of a mixture of apartments, single family, mobile homes and condominiums. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.