Taft, CA
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Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$87,800
Purchase Price$140,000
OccupNon-Owner Occ.
Interest Rate12.00%
LTV on Purch. Price62.71%
Loan TypeFix and Rent
Amortization30 Year amort/due in 2 years
Guaranteed Interest6 months


Loan Scenario:

Husband and Wife Real Estate Investors and previous successful borrower of Mortgage Vintage, Inc. purchasing these cash flowing Duplex and SFR properties in Taft for rental income.  Borrower will be cash flow positive and is buying on an 11.31% Cap Rate.  Subject Properties on this Blanket Trust Deed contain a Duplex and an SFR with total of 5 bed and 3 baths. Pro-Forma rents are $2,200/mo.  $20k rehab funds in already in Escrow. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.