Cash-Out Loan Funded – Chatsworth

Chatsworth, CA
chatsworth photo

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $206,400
Estimated Value $616,000
Occup Owner Occ.
Interest Rate 10.99%
LTV on Est. Value 33.51%
Loan Type Business Purpose Cash-Out
Amortization 40 Year amort/due in 3 years
Guaranteed Interest 6 months

Loan Scenario:

757 Mid FICO and retired Jeweler looking for a cash-out to expand the family jewelry business with his Son. Subject Property is a 4 bed, 3 baths SFR sitting on a large 11,052 sq. ft. lot in Chatsworth.  Property features wood flooring throughout with granite countertop kitchen and bathrooms.  Property has spacious living room, family room, swimming pool and Jacuzzi with nice yard and landscape. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.