Rental Purchase Loan Funded – Ladera Ranch, CA

Ladera Ranch, CA

half moon trail map 2

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Property / Loan Information
Property Type Residential Condo
Lien Position 1st TD
Loan Amount $390,000
Purchase Price $600,000
Occup Non-Owner Occ.
Interest Rate 10.00%
LTV on Purch. Price 65.00%
Loan Type Rental Purchase
Amortization 40 Year amort/due in 3 years
Guaranteed Interest 6 months


Loan Scenario:

Real Estate Investor and previous borrower of Mortgage Vintage, Inc. purchasing this Residential Condo for rental income. Borrower is bringing in over $200k of own cash into this investment. Subject Property is a spacious 1,969 s.f. 2 level Condo with 3 bdr, 2.5 baths situated in the Trails community of Oak Knoll, Ladera Ranch.  Property has spacious back yard which includes a patio & grass area, upgraded kitchen & baths with granite counters, crown moldings and plantation shutters throughout. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.