| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $87,750 |
| Purch. Price | $76,000 |
| Occup | Non-Owner Occ. |
| Lender Rate | 11.25% |
| LTV on Total Value | 65.00% |
| Loan Type | Business Purpose Purchase |
| Amortization | Interest Only Due in 36 mos. |
| Guaranteed Int. | 6 months |
Loan Scenario:
658 FICO borrower with stable employment history and real estate investor purchased SFR in Coalinga for investment purposes.
Subject Property is a 2 bed/1 bath, 1,102 s.f. Ranch Style SFR, sitting on a 7,000 s.f. lot in Coalinga. The Cross-Collateral Property is a 2 bed/1 bath, 660 s.f. SFR sitting on a 4,033 s.f. lot. Both properties are within close proximity to the New Coalinga Municipal Airport, the 5/33/198 FWYS, shopping, and the RC Baker Memorial Museum. Mortgage Vintage, Inc., was able to fund this hard money loan in Coalinga, CA, within 3 business days from receiving the signed Term Sheet.