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|Property / Loan Information|
|Lien Position||1st TD|
|LTV on Purch. Price||65.00%|
|Loan Type||Rental Purchase|
|Amortization||40 Year amort/due in 2 years|
|Guaranteed Interest||6 months|
647 Mid FICO Real Estate Investors and professional Rehabber and previous borrower of Mortgage Vintage, Inc. looking to purchase REO SFR from Fannie Mae for fix and flip. Property is a 3 bed, 2 baths SFR on a large acre lot with lots of potential for development. Borrower plans to put in $30k to complete interior paint, replace the carpet, repair the floorings and obtain permit for the added square footage. Repair Value is approx. $230k. Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.