Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $195,000
BPO Value $285,000
Occup Non-Owner Occ.
Lender Rate 10.50%
LTV on BPO Value 68.42%
Loan Type Business Purpose Cash-Out
Amortization Interest Only Due in 36months
Guaranteed Interest 6 months




Loan Scenario:

Real Estate Investor looking for a cash out on SFR in Los Angeles to improve and renovate the subject investment property. Subject Property is a 2 bdr, 1 bath 1,063 s.f. Spanish style SFR located close to the 110 & 105 FWY.  Property currently has tile roofing and detached car garage.  Borrower plans to put in $25k to renovate the property, install kitchen, cabinets, floorings, re-paint interior and upgrade bathroom fixtures. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.