Property / Loan Information
Property TypeSFR
Lien Position1st TD
Loan Amount$516,000
Purchase Price$645,.000
OccupNon-Owner Occ.
Interest Rate10.99%
LTV on Purchase Price80%
Loan TypeBusiness Purpose Purchase
AmortizationInterest Only Due in 12 months
Guaranteed Interest90 days

 


Loan Scenario:

681 Mid FICO Real Estate Investor looking to purchase SFR for rental income. Borrower is putting in over $120k of own cash in this investment and needs quick closing, borrower will attempt to obtain conventional refinance after 3 mo. Minimum term.  Subject Property is a 4 bdr, 3 baths two-story SFR sitting on a large 10,400 s.f. lot located in Temecula, CA overlooking the Redhawk Golf Course with upgraded kitchen includes beautiful cabinets, granite and a large center island.  Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.