Cash-Out Loan Funded – Victorville, CA

Victorville, CA
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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $105,000
BPO Value $175,000
Occup Non-Owner Occ.
Interest Rate 11.25%
LTV on BPO Value 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 looking for a cash-out to upgrade the subject rental property. Subject Property is a 4 bed, 2 baths SFR sitting on a large 7,500 sq. ft. lot conveniently located close to the 15 FWY. Property is carpeted throughout with granite countertop kitchen, fireplace and swimming pool.  Property is currently providing rental income of $850/mo. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.