| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $73,800 |
| BPO Valuation | $123,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 12.00% |
| LTV on BPO Valuation | 60.00% |
| Loan Type | Business Purpose Cash-Out |
| Amortization | 40 Year amort/due in 3 years |
| Guaranteed Interest | 6 months |
Loan Scenario:
Real Estate Investor, Contractor and Owner of a decorative concrete construction company looking for a cash-out to complete rehab of the property and to purchase additional investment properties.
Property is a 4 bed, 2.5 baths zoned SFR with a permitted Guest House. Property is currently under renovation and will be completed by February 2014. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.