| Property / Loan Information | |
| Property Type | Land |
| Lien Position | 1st TD |
| Loan Amount | $400,000 |
| Appraised Value | $2.6Mil |
| Occup | Non-Owner Occ. |
| Interest Rate | 11.00% |
| LTV on AppraisedValue |
15.38% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | Interest Only Due in12 months |
| Guaranteed Interest | 6 months |
Loan Scenario:
Real Estate Investor looking for a bridge loan to fund permits and entitlements for the site. The site has water, power and sewage. The area has recently seen a flurry of large big box distribution center leases and purchases including Home Depot, Lowes and Amazon.com. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.