Property / Loan Information
Property TypeSingle Family Residence
Lien Position1st TD
Loan Amount$472,500
AVM Value$630,300
OccupNon-Owner Occ.
Lender Rate8.75%
LTV on AVM74.61%
Loan TypePurchase Fix & Flip
AmortizationInterest Only Due in 12 mos.
Guaranteed Int.3 Months

 

 

 

 

 

 

Loan Scenario:

Self-employed borrower with fix and flip experience and a 709 mid FICO credit score seeking a purchase loan to fix and flip investment property.

Subject is a 1 story, 3 bdrm/1 full bath Single Family Residence located in Costa Mesa.  The Property measures 1,728 sf of gross living area, and is situated on a 7,197 sf lot.

Mortgage Vintage, Inc. was able to fund this hard money loan in Long Beach, CA, within 3 business days from receiving the signed Term Sheet.