Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$520,000
Purchase Price$800,000
OccupNon-Owner Occ.
Lender Rate9.00%
LTV on Purchase Price65.00%
Loan TypeBusiness Purpose Purchase
AmortizationInterest Only Due in 1 year
Guaranteed Interest180 days


Loan Scenario:

Real Estate Investor and Doctor with 718 FICO looking for a business purpose loan to fix and flip this SFR in Northridge. Subject Property is a beautiful pool home with 4 bdr,, 4 baths 3,674 s.f. SFR sitting on a large 16,328 s.f lot located in Northridge, CA. Open floor plan in most sought after area of the San Fernando Valley. Great potential with ARV of $1.15 Mil. Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.