Property / Loan Information
Property TypeResidential Duplex
Lien Position2nd TD
Loan Amount$140,000
Estimated Valuation$700,000
OccupNon-Owner Occ.
Lender Rate11.00%
LTV on Est. Value64.42%
Loan TypeBusiness Purpose Cash-Out
AmortizationInterest Only Due in 12 mos.
Guaranteed Interest6 months

 

 

 

Loan Scenario:

Borrower looking for a cash-out to purchase additional investment properties. This subject property is a multi-level style Residential Duplex with 6 bedrooms, 4 bathrooms sitting on a large 7,598 sf lot. Property features hardwood floors throughout with tiled kitchen and dining area. Property has 4 attached enclosed garages. Property is fully occupied and currently rented for $3,600/month. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.