Castaic, CA

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Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$280,300
Purchase Price$350,374
OccupNon-Owner Occ.
Interest Rate11.50%
LTV on Purch. Price80.00%
Loan TypeFix and Flip
Amortization40 Year amort/due in 12 months
Guaranteed Interest3 months

Loan Scenario:

724 FICO Real Estate Broker,   experienced rehab Investor and previous borrower of Mortgage Vintage, Inc. looking to purchase SFR from OCWEN Auction Co. (special servicer) to fix and re-sell. Subject Property is a 3 bdr, 3 baths SFR conveniently located close to schools, parks and the 5 FWY.  Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.