| Property / Loan Information | |
| Property Type | Multi-Fam |
| Lien Position | 2nd TD |
| Loan Amount | $60,000 |
| BPO Value | $810,000 |
| Occup | Non-Owner |
| Lender Rate | 10.25% |
| CLTV on Purch | 60.00% |
| Loan Type | Business Purpose Purchase |
| Amortization | Interest Only Due in 36 mos. |
| Guaranteed Int. | 6 months |
Loan Scenario:
Real Estate Investor and owner of multiiple rental properties looking to purchase subject multiplex for rental income. Subject property is a 3,916 s.f. 6-unit multiplex sitting on a 23,441 s.f. lot with 9beds/6baths. Borrower plans to upgrade the property and fix one of the buildings which sustained damage from a vehicle accident once he acquires ownership. Mortgage Vintage, Inc. was able to fund this hard money loan in Santa Ana, CA, within 3 business days from receiving the signed Term Sheet.