| Property / Loan Information | |
| Property Type | Residential Condo |
| Lien Position | 1st TD |
| Loan Amount | $390,000 |
| Purchase Price | $600,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 10.00% |
| LTV on Purch. Price | 65.00% |
| Loan Type | Rental Purchase |
| Amortization | 40 Year amort/due in 3 years |
| Guaranteed Interest | 6 months |
Loan Scenario:
Real Estate Investor and previous borrower of Mortgage Vintage, Inc. purchasing this Residential Condo for rental income. Borrower is bringing in over $200k of own cash into this investment. Subject Property is a spacious 1,969 s.f. 2 level Condo with 3 bdr, 2.5 baths situated in the Trails community of Oak Knoll, Ladera Ranch. Property has spacious back yard which includes a patio & grass area, upgraded kitchen & baths with granite counters, crown moldings and plantation shutters throughout. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.