Fix and Flip Loan Funded – Murrieta, CA

Murrieta, CA

murrieta photomurrieta map

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $1.56Mil
Purchase Price $1.95Mil
Occup Non-Owner Occ.
Interest Rate 11.50%
LTV on Purch Price 80.00%
Loan Type Fix and Flip
Amortization Interest Only due in 12 mos.
Guaranteed Interest 6 months

Loan Scenario:

737 Mid FICO Real Estate Investor and General Contractor purchasing this SFR for fix and re-sell.  Borrower is putting over $400k of own cash into this investment with $150k in rehab with funds control company. Subject Property is a 5 bdr, 5.3 baths SFR on a large 10,816 sq. ft. lot located in Murrieta, CA.  Mortgage Vintage, Inc. was able to fund the loan within 3 business days from receiving the signed Term Sheet.