Fix and Rent Loan Funded – Jamestown, CA

Jamestown, CA

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $188,500
Purchase Price $290,000
Occup Non-Owner Occ.
Interest Rate 11.50%
LTV on Purch. Price 65.00%
Loan Type Fix and Rent
Amortization Interest Only due in 3 years
Guaranteed Interest 6 months

Loan Scenario:

773 Mid FICO Self-Employed Auto Investment Dealer, Real Estate Investor and previous successful Fix and Flip rehabber with Mortgage Vintage purchasing this Bank Owned Single Family Residence in Jamestown, CA for fix and rent on a 1031 Exchange and with cash. Subject Property is a 3bdr, 2 baths SFR sitting on a large 40 acre land located Jamestown, CA.  Property has separate family room, living room, nook, formal dining room and large kitchen. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.