| Property / Loan Information | |
| Property Type | Commercial Building |
| Lien Position | 1st TD |
| Loan Amount | $650,000 |
| Appraised Value | $950,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 11.00% |
| LTV on Appraised Value | 68.42% |
| Loan Type | Business Purpose Cash-Out Refi |
| Amortization | 40 Year amort/due in 3 years |
| Guaranteed Interest | 6 months |
Loan Scenario:
Restaurant & Sports Bar Owner looking for a refinance to payoff the seller carryback loan on this oceanfront mixed used commercial building. Subject Property is a 2,228 sq. ft. restaurant/sports bar located in the heart of the North Beach area of San Clemente and walking distance from the beach. Property is located next to a surf shop, various restaurants, retail stores, multi-family residential buildings and is across from the Ole Hanson historic theater. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.