| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $113,750 |
| Purchase Price | $175,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 10.50% |
| LTV on Purch Price | 75.00% |
| Loan Type | Business Purpose Purchase |
| Amortization | Interest Only due in 3 years |
| Guaranteed Interest | 180 Days |
Loan Scenario:
789 Mid FICO Real Estate Investor looking to purchase SFR for fix and rent. Borrower is bringing over $60k into this investment. Subject Property is a 3 bdr, 1 bath. SFR on a large 7,841 s.f. lot located close to schools, parks and freeways in Riverside. Property has an addition that is not permitted totaling approx. 1,200 s.f. of living space; borrower plans to obtain permits. BPO valuation is not dependent on the unpermitted additions. Borrower plans to put in $20k to rehab the property for cash flow. Property will be rented for $1,250/mo in March 2015. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.
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