| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $302,250 |
| Purchase Price | $465,00 |
| Occup | Non-Owner Occ. |
| Interest Rate | 10.75% |
| LTV on Purch. Price | 70.00% |
| Loan Type | Rental Purchase |
| Amortization | 30 Year amort/due in 12 months |
| Guaranteed Interest | 3 months |
Loan Scenario:
Real Estate Investor, Contractor and Owner of a decorative concrete construction company looking to purchase SFR for investment. Borrower is putting over $200k of own cash into this investment. Property is a 4 bed, 3.5 baths SFR in the gated community of Rancho Santana city of La Quinta. Property is sitting on a large 10,454 sq. ft. lot with granite counter kitchen, bar area, 2 fireplaces and side porch with a view.
Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.