Cash-Out Refinance Loan Funded in Adelanto

Adelanto, CA

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $86,700
BPO Valuation $144,500
Occup Non-Owner Occ.
Interest Rate 11.25%
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 looking for a cash-out on free and clear property to repair and upgrade the subject investment property. Property is a Duplex with 4 bed, 2 baths located near 15 FWY. Property is sitting on a large 7,752 sf lot with granite counter top kitchen, tile flooring and carpeted bedrooms. Borrower plans to replace the roofing and new paint. Property is currently tenant occupied with month rental income of $1,200/mo. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.

Mortgage Vintage, Inc. provides business purpose cash-out refinance loans throughout Southern California