Rancho Mirage, CA
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Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$272,350
Purchase Price$419,000
OccupNon-Owner Occ.
Interest Rate10.00%
LTV on Purch. Price65.00%
Loan TypeRental Purchase
Amortization40 Year amort/due in 2 years
Guaranteed Interest6 months

Loan Scenario:

Real Estate Investor looking to purchase SFR for rental income.  Borrower is bringing over $140k into this investment. Subject Property is a spacious 3 bdr, 2 baths 2,036 s.f. SFR located in the beautiful Key Largo development of Rancho Mirage.  Property is carpeted throughout with open floor plan, fireplace in the great room, granite counters in the kitchen and baths, private gated courtyard in front with pool and spa in rear. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.