Fix and Flip Loan Funded Castaic

Castaic, CA

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $280,300
Purchase Price $350,374
Occup Non-Owner Occ.
Interest Rate 11.50%
LTV on Purch. Price 80.00%
Loan Type Fix and Flip
Amortization 40 Year amort/due in 12 months
Guaranteed Interest 3 months



Loan Scenario:

724 FICO Real Estate Broker,   experienced rehab Investor and previous borrower of Mortgage Vintage, Inc. looking to purchase SFR from OCWEN Auction Co. (special servicer) to fix and re-sell. Subject Property is a 3 bdr, 3 baths SFR conveniently located close to schools, parks and the 5 FWY.  Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.