Cash-Out Refinance Loan Funded – Moreno Valley

Moreno Valley, CA

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $129,000
BPO Valuation $215,000
Occup Non-Owner Occ.
Interest Rate 11.50%
LTV on Est. Valuation 70.00%
Loan Type Business Purpose Cash-Out
Amortization 30 Year amort/due in 2 years
Guaranteed Interest 6 months



Loan Scenario:
Real Estate Investor looking for a cash-out to fix and upgrade investment property. Subject Property is a 4 bed, 3 baths SFR located at the end of a cul de sac. Property is sitting on a large 9,583 sq. ft. lot with granite counter top kitchen, has fireplace and new paint with attached 3 car garage with fenced backyard. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.