Fix and Flip Loan Funded – La Canada/Flintridge

La Canada Flintridge, CA
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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $770,000
Purchase Price $1,100,000
Occup Non-Owner Occ.
Interest Rate 9.99%
LTV on Purch. Price 70.00%
Loan Type Fix and Flip
Amortization 40 Year amort/due in 12 mos.
Guaranteed Interest 3 months


Loan Scenario:

708 Mid FICO Real Estate Investor purchasing SFR for fix and re-sell.  Borrower is putting over $330k of own cash into this investment with $30k in rehab. Subject Property is a 5 bdr, 2.5 baths SFR on a large 6,645 sq. ft. lot located in La Canada Flintridge.  Property has tile kitchen, carpeted bedrooms and living room with granite bathroom. Property has large private backyard with swimming pool, BBQ area and patio. Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.