| Property / Loan Information | |
| Property Type | Vacant Land |
| Lien Position | 1st TD |
| Loan Amount | $95,000 |
| Estimated Value | $220,000 |
| Occup | Non-Owner Occ. |
| Lender Rate | 10.00% |
| LTV on Est. Value | 43.18% |
| Loan Type | Cash-Out Construction Loan |
| Amortization | Interest Only Due in 2 years |
| Guaranteed Interest | 6 months |
Loan Scenario:
Real Estate Investor, General Contractor and previous borrower of Mortgage Vintage looking for a cash out construction loan to complete construction on SFR in Perris, CA. Borrower purchased the land in Dec 2013 for $30k. He plans to complete construction on the 3 bed, 2 baths SFR on the 6,970 s.f. lot. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.