| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $521,500 |
| BPO Value | $745,000 |
| Occup | Non-Owner Occ. |
| Lender Rate | 10.00% |
| LTV on BPO Value | 70.00% |
| Loan Type | Business Purpose Purchase |
| Amortization | Interest Only Due in 24 mos. |
| Guaranteed Interest | 6 months |
Loan Scenario:
Real estate investor/borrower and General Contractor looking to purchase this ranch style SFR in Northridge to fix and rent. Subject property is a traditional SFR that has many recent upgrades including a great, room, new Kitchen Cabinets and appliances, new hardwood floors and bathrooms. Borrower plans to spend $40k, add square footage to the guest bedrooms, improve the landscaping around the pool and sell in 24 months in the $840k range. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.