Recent Transaction in Santa Ana – Business Purpose Purchase

Property / Loan Information
Property Type Commercial
Lien Position 1st TD
Loan Amount $800,000
Appraised Value $1,705,000
Occup Non-Owner Occ.
Lender Rate 9.50%
LTV on Appraised Value 46.92%
Loan Type Business Purpose Purchase
Amortization Interest Only Due in 3 years
Guaranteed Interest 180 days


Loan Scenario:

666 Mid FICO Real Estate Investor looking to purchase commercial property for rental income. Borrower has leased the property for over 20 years from the current owners. Owner of the land passed away and willed the property to the family and the family is selling the property to their long time lessee. Borrower has improved the property through the years and hence the discount of Purchase Price to Appraised Value. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.