| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $470,000 |
| Appraised Value | $988,000 |
| Occup | Non-Owner Occ. |
| Lender Rate | 9.25% |
| LTV on Appraised Value | 47.57% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | Interest Only Due in 5 years |
| Guaranteed Interest | 6 months |
Loan Scenario:
Owner of 35 year old successful packing and crating company is looking for a cash-out to payoff current business 1st lienholder and taxes. Subject Property is a 5,200 s.f. commercial building on a 7,622 s.f. lot located in Hawthorne, CA. Property is currently used for a domestic and international shipping business. Mortgage Vintage, Inc. was able to diligently work through and remove the 15+ lien items with clearance of the Phase I and Phase II Environmental Report to close the loan.