Fix and Flip Loan Funded – Los Angeles

Los Angeles, CA
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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $119,000
Purchase Price $170,000
Occup Non-Owner Occ.
Interest Rate 10.75%
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:

741 Mid Fico Real Estate Investor and Professional Rehabber looking to purchase probate sale property for fix and flip. Subject Property is a 1 bed, 1 bath SFR close to the 5, 710 and 60 FWY.  Property has lots of potential for development. Borrower plans to put in $30k to rehab and add extra square footage to the property.   After Repair Value is approx. $270k. Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.