Victorville, CA
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Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$105,000
BPO Value$175,000
OccupNon-Owner Occ.
Interest Rate11.25%
LTV on BPO Value60.00%
Loan TypeBusiness Purpose Cash-Out
Amortization40 Year amort/due in 3 years
Guaranteed Interest6 months

Loan Scenario:

Real Estate Investor looking for a cash-out to upgrade the subject rental property. Subject Property is a 4 bed, 2 baths SFR sitting on a large 7,500 sq. ft. lot conveniently located close to the 15 FWY. Property is carpeted throughout with granite countertop kitchen, fireplace and swimming pool.  Property is currently providing rental income of $850/mo. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.