| Property / Loan Information | |
| Property Type | Commercial Bldg, Retail |
| Lien Position | 1st TD |
| Loan Amount | $275,000 |
| Est. Value | $1,060,000 |
| Occup | Non-Owner Occ |
| Note Rate | 11% |
| LTV on Est Value | 25.94% |
| Loan Type | Cash Put Refinance |
| Amortization | Interest Only Due in 2 years |
| Guaranteed Interest | 6 months |
Loan Scenario:
Owner of Commercial Retail Building in Yucca Valley looking for cash-out to build and launch an online platform, www.buildeffective.com, for kitchen design and remodeling. Subject Property is an 8,136 sq. ft. Southwest style commercial retail center located in the heart of the High Desert. There was extensive remodeling completed in 2003/2004. Property is located in the center of town off the main highway. Property had a lot split last year and the other sister building was sold for $795k ($130/s.f.). Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.