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Mortgage Vintage Views Issue 2 |
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We want to keep you updated on our breadth of service and take this month to educate you on the Construction Bridge Loan Program. These Bridge loans are for a duration of less than 1 year and are designed to finish construction on a Single Family Residence.
Please enjoy this informative newsletter highlighting a recent Bridge Loan transaction and let me know if you have any questions.
~ Sandy MacDougall
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Recently Originated Construction Bridge Loan
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 Address: Highland Valley Road, Ramona, CA 92065
Property Type: Single Family
Loan Type: Refinance
Loan Amt: $256,000
Property Value at Completion: $615,000
Loan to Value: 41.62%
Loan Term: 11 months
Loan to Cost: 65%
Rate: 11.5%
Lender and Account Executive Points: 5
Find out more about this transaction Just Click Here
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| Construction Bridge Loan Program |
If one of your Owner Occupied or Non-Owner Occupied borrowers started to build a house and needs some additional funds to finish construction, consider a Mortgage Vintage, Inc. loan:
- 1st TD LTV <=65%
- Rates starting at 11%
- Non-Owner Occupied and Owner Occupied
- Loan amounts from $50k to $500k
- Term = <1 year, balloon, amortized over 30 or 40 years
- Lender Fees are $1,995 and 3-5 Points
- Appraisal required
- FICO/BK/NOD issues OK
Get the rest of the details here |
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You Tube Video: Point of Difference
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Why we Excel
Mortgage Vintage, Inc. |
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Testimonial of Services |
As a mortgage broker with direct lender relationships funding conventional loans, I occasionally see a loan where borrowers don't qualify for conventional financing. Recently, we had two loans which were late into the escrow period and denied by the Bank. I called Mortgage Vintage, Inc. and they were very responsive, delivered as committed and provided a Private Money loan that allowed the buyers to proceed and close the purchase.
The Principals at Mortgage Vintage are very professional, work efficiently and performed on time - even better than hoped.
Rick A. Geary
Vice President
Emery Financial, Inc.
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