|Property / Loan Information|
|Lien Position||1st TD|
|LTV on BPO Value||70.00%|
|Loan Type||Business Purpose Purchase|
|Amortization||Interest Only Due in 24 mos.|
|Guaranteed Interest||6 months|
Real estate investor/borrower and General Contractor looking to purchase this ranch style SFR in Northridge to fix and rent. Subject property is a traditional SFR that has many recent upgrades including a great, room, new Kitchen Cabinets and appliances, new hardwood floors and bathrooms. Borrower plans to spend $40k, add square footage to the guest bedrooms, improve the landscaping around the pool and sell in 24 months in the $840k range. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.