|Property / Loan Information|
|Property Type||Vacant Land|
|Lien Position||1st TD|
|LTV on Est. Value||43.18%|
|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 cash out construction loan to complete construction on SFR in Perris, CA. Borrower purchased the land in Dec 2013 for $30k. He plans to complete construction on the 3 bed, 2 baths SFR on the 6,970 s.f. lot. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.