| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $120,000 |
| BPO Value | $175,000 |
| Occup | Non-Owner |
| Lender Rate | 10.00% |
| LTV on BPO Value | 68.57% |
| Loan Type | Business Purpose Purchase |
| Amortization | Interest Only Due in 12 mos. |
| Guaranteed Int. | 3 months |
Loan Scenario:
Real Estate Investor and previous borrower of Mortgage Vintage looking to purchase this SFR in Northern California to fix and sell the property with tenant occupancy. Subject property is a 900 s.f. SFR sitting on a 4,356 s.f. lot with 2 bed, 1 bath in Eureka. Borrower plans to spend $15k in rehab budget to add another bathroom and make it into a 2 bed, 2 baths SFR.
Mortgage Vintage, Inc. was able to fund this hard money loan in Eureka, CA, within 3 business days from receiving the signed Term Sheet.