| 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.