Long Beach, CA

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Property / Loan Information
Property Type SFR
Lien Position 2nd TD
Loan Amount $50,000
Est. Valuation $350,000
Occup Owner Occ.
Note Rate 13.50%
CLTV on Est. Valuation 55.26%
Loan Type Business Purpose Cash-Out
Amortization 40 Year amort/due in 5 years
Guaranteed Interest 6 months

Loan Scenario:

Owner-Occupant looking for cash-out to make investment in marketing company. Exit strategy is to obtain conventional refinance. Property is a 3bdr, 1 bath SFR on a large lot located in Long Beach with close proximity to the 710 and 405 freeways. Property is carpeted throughout the living room and bedrooms with tiled kitchen flooring.  Property has 2 car detached garage with plenty of off street parking. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.