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
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.