Owner Occ. Rate & Term Refi Loan Funded

Irvine, CA

Download Full Summary

Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $515,000
BPO Valuation $792,000
Occup Owner Occ.
Note Rate 11.50%
LTV on BPO Valuation 65.05%
Loan Type Business Purpose Cash-Out
Amortization 30 Year amort/due in 5 years
Guaranteed Interest 6 months

Loan Scenario:

Borrower is an attorney looking for rate and term refinance to payoff maturing existing business purpose 1st Trust Deed from California Bank and Trust and a Tax Lien. Borrower will be bringing close to $50k cash to close this transaction. Subject Property is a 4bdr, 3 baths SFR centrally located in the Woodbridge area of Irvine between the 405 Freeway and the 5 Freeway with close proximity to Deerfield Park.  Mortgage Vintage, Inc. was able to able to quickly fund the loan within 3 business daysfrom receiving the signed Term Sheet.