Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$305,000
BPO Value$436,000
OccupNon-Owner Occ.
Interest Rate10.50%
LTV on BPO Value70%
Loan TypeBusiness Purpose Cash Out
Amortization40 yr amort/due in 12 months
Guaranteed Interest3 months




Loan Scenario:

724 FICO Real Estate Broker,   experienced rehab Investor and previous borrower of Mortgage Vintage, Inc. looking for a cash-out and extension on current maturing 1st TD. Borrower put in over $35k of rehab in 2014 to renovate the property and has made all payments on time. Subject Property is a 3 bdr, 3 bath SFR conveniently located close to schools, parks and the 5 FWY. Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.