Property / Loan Information
Property TypeCondo
Lien Position1st TD
Loan Amount$510,000
BPO Value$850,000
OccupNon-Owner Occ.
Interest Rate8.99%
LTV on BPO Value60%
Loan TypeBusiness Purpose Purchase
AmortizationInterest Only Due in 3 years
Guaranteed Interest180 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.