Cash-Out Debt Consolidation Loan Funded – Orange, CA

Orange, CA
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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $250,000
Appraised Value $830,000
Occup Owner Occ.
Interest Rate 8.75%
LTV on Appraised Value 30.12%
Loan Type Debt Consolidation Cash-Out Consumer Loan
Amortization 40 Year amort/due in 5 years
Guaranteed Interest N/A

Loan Scenario:

Borrower is a Real Estate Investor looking for a cash-out to consolidate debts.  Borrower has sufficient verified income from a Family Trust and her employment. Subject Property is a large 5 bed, 3 baths 2,853 sq. ft. SFR located in Serrano Heights of Orange.  Property has many upgrades including plantation shutters, custom paint, ceiling fans, crown molding, recessed lightings and private rear yard with built-in BBQ area. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.

Cash-Out Refinance Loan Funded

Orange, CA

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Property / Loan Information
Property Type SFR (Cash-Out Refi)
Lien Position 2nd Trust Deed
Loan Amount $75,000
As Is Valuation $640,000
Appraisal/s.f. $259/s.f.
Combined LTV 60.63%
Loan Type Cash-Out Refinance
Amortization 40 Year amort/due in 2 years
Prepay Penalty 6 months