|Property / Loan Information|
|Lien Position||1st TD|
|LTV on ARV Value||58.82%|
|Loan Type||Cash-Out Construction Loan|
|Amortization||Interest Only Due in 2 years|
|Guaranteed Interest||6 months|
Real Estate Investor, General Contractor and previous borrower of Mortgage Vintage looking for a construction loan to build new SFR in Perris, CA. Borrower purchased the land in Feb 2015 for $49k. He plans to build a 3 bed, 2 baths, 1,432 s.f. SFR on the ½ acre conforming parcel. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.