| Property / Loan Information | |
| Property Type | Duplex |
| Lien Position | 1st TD |
| Loan Amount | $322,000 |
| Appraised Value | $460,000 |
| Occup | Non-Owner Occ. |
| Lender Rate | 9.00% |
| LTV on AppraisedValue |
70.00% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | Interest Only Due in 24 months |
| Guaranteed Interest | 6 months |
Loan Scenario:
Fully employed Real Estate Investor and previous successful borrower of Mortgage Vintage looking for a business purpose cash-out to upgrade the investment property. Property has two car detached garage with plenty of driveway parking space between the 2 units; has carpeted floorings for bedrooms and tiled kitchen floorings. Property is fully occupied with rental income of $2,700/mo. Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.