Rental Purchase Loan Funded – King City, CA

King City, CA
mildred photo_opt

mildred map

Download Full Summary

Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $178,750
Purchase Price $282,000
Occup Non-Owner Occ.
Interest Rate 11.50%
LTV on BPO Value 65.00%
Loan Type Rental Purchase
Amortization Interest Only due in 12 mos.
Guaranteed Interest 3 months

Loan Scenario:

775 Mid FICO Real Estate Investor looking to purchase SFR for rental income. Property is a 3 bed, 2 baths SFR on a large 0.15 acre lot with upgraded kitchen and bathroom; has wood flooring and carpet throughout.  Property will be rented for $2,000/mo. Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.