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|Property / Loan Information|
|Lien Position||1st TD|
|LTV on Appraised Value||60.00%|
|Loan Type||Business Purpose Cash Out|
|Amortization||40 Year amort/due in 12 mos.|
|Guaranteed Interest||6 months|
645 Mid FICO and Real Estate Investor looking for a cash-out on this non-owner fix and flip property to complete rehab, and to buy out the other owner in a currently owned Pharmacy used to supply medicine for borrower’s Pasadena based Assisted Living Facility. Subject Property is a beautiful 3 bed, 3 baths SFR with expansive views sitting on a large 19,071 sq. ft. lot in the foothills of Arcadia. Property was purchased with all cash in May 2014 for $1.45Mil. Borrower spending $450k on the significant Rehab. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.