|Property / Loan Information|
|Lien Position||1st TD|
|LTV on BPO Value||68.57%|
|Loan Type||Business Purpose Purchase|
|Amortization||Interest Only Due in 12 mos.|
|Guaranteed Int.||3 months|
Real Estate Investor and previous borrower of Mortgage Vintage looking to purchase this SFR in Northern California to fix and sell the property with tenant occupancy. Subject property is a 900 s.f. SFR sitting on a 4,356 s.f. lot with 2 bed, 1 bath in Eureka. Borrower plans to spend $15k in rehab budget to add another bathroom and make it into a 2 bed, 2 baths SFR.
Mortgage Vintage, Inc. was able to fund this hard money loan in Eureka, CA, within 3 business days from receiving the signed Term Sheet.