| Property / Loan Information | |
| Property Type | Condo |
| Lien Position | 1st TD |
| Loan Amount | $510,000 |
| BPO Value | $850,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 8.99% |
| LTV on BPO Value | 60% |
| Loan Type | Business Purpose Purchase |
| Amortization | Interest Only Due in 3 years |
| Guaranteed Interest | 180 days |
Loan Scenario:
698 and 807 Mid FICO Real Estate Investors looking to purchase Condo for rental income. Subject property is a 3 bed, 2 baths 1,375 s.f. Condo with upgraded wood flooring, granite countertop kitchen, tile kitchen flooring and bathrooms and has a great view. Property is minutes from the beach and located in the Santa Ynez foothills at the end of the Santa Barbara Polo and Racquet Club Polo Field. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.