Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$87,750
Purch. Price$76,000
OccupNon-Owner Occ.
Lender Rate11.25%
LTV on Total Value65.00%
Loan TypeBusiness Purpose Purchase
AmortizationInterest 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.