| Property / Loan Information | |
| Property Type | Commercial |
| Lien Position | 1st TD |
| Loan Amount | $800,000 |
| Appraised Value | $1,705,000 |
| Occup | Non-Owner Occ. |
| Lender Rate | 9.50% |
| LTV on Appraised Value | 46.92% |
| Loan Type | Business Purpose Purchase |
| Amortization | Interest Only Due in 3 years |
| Guaranteed Interest | 180 days |
Loan Scenario:
666 Mid FICO Real Estate Investor looking to purchase commercial property for rental income. Borrower has leased the property for over 20 years from the current owners. Owner of the land passed away and willed the property to the family and the family is selling the property to their long time lessee. Borrower has improved the property through the years and hence the discount of Purchase Price to Appraised Value. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.