| 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.