| Property / Loan Information | |
| Property Type | SFR |
| Lien Position | 1st TD |
| Loan Amount | $225,550 |
| Purchase Price | $347,000 |
| 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:
Real Estate Investor looking to purchase Mixed Use Commercial/Residential property for fix and rent. Borrower is putting in over $120k cash into this purchase and will fix up the property and increase rents to $4k/mo. Subject Property is in a 3 unit, Mixed Use property located in Los Angeles. Property has a mini market in the front, a 4 bed, 1.5 baths in the 2nd unit and a 1 bed/1 bath in the back unit. Property is currently rented for $3,500/mo providing a 7.9% cap rate on the purchase price with 35% expense ratio. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.