| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $272,350 |
| Purchase Price | $419,000 |
| Occup | Non-Owner Occ. |
| Interest Rate | 10.00% |
| LTV on Purch. Price | 65.00% |
| Loan Type | Rental Purchase |
| Amortization | 40 Year amort/due in 2 years |
| Guaranteed Interest | 6 months |
Loan Scenario:
647 Mid FICO Real Estate Investors and professional Rehabber and previous borrower of Mortgage Vintage, Inc. looking to purchase REO SFR from Fannie Mae for fix and flip. Property is a 3 bed, 2 baths SFR on a large acre lot with lots of potential for development. Borrower plans to put in $30k to complete interior paint, replace the carpet, repair the floorings and obtain permit for the added square footage. Repair Value is approx. $230k. Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.