Property / Loan Information
Property TypeVacant Land
Lien Position1st TD
Loan Amount$95,000
Estimated Value$220,000
OccupNon-Owner Occ.
Lender Rate10.00%
LTV on Est. Value43.18%
Loan TypeCash-Out Construction Loan
AmortizationInterest Only Due in 2 years
Guaranteed Interest6 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.