| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $715,000 |
| Purchase Price | $1.1Mil |
| Occup | Non-Owner Occ. |
| Interest Rate | 10.50% |
| LTV on Purch. Price | 65.00% |
| Loan Type | Rental Purchase |
| Amortization | Interest Only due in 24 mos. |
| Guaranteed Interest | 6 months |
Loan Scenario:
673 Mid FICO and Real Estate Investor purchasing this SFR to fix and keep for rental income. Borrower is putting over $385k of own down payment cash into this purchase. Subject Property is a large 4,460 s.f Spanish-style SFR with Guest House sitting on 1.53 acre lot with 5 beds, 5 baths located in Covina Hills, CA. Property was built in 1924 but has been remodeled within the last 5 years with newer kitchen, grand living room, large wood balcony and decks. Property has panoramic view and private gates with park-like front yard. Property is currently rented for $6,500/mo. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.