Rental Purchase Loan Funded – Santa Ana, CA

Hard Money Loan for Santa Ana, CA
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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $211,250
Purchase Price $325,000
Occup Non-Owner Occ.
Interest Rate 10.25%
LTV on Purch. Price 65.00%
Loan Type Rental Purchase
Amortization 40 Year amort/due in 2 years
Guaranteed Interest 6 months

Loan Scenario:

661 Mid FICO Borrower and Real Estate Investor looking to purchase this investment property SFR. Borrower is contributing over $110k Down Payment into this investment. Subject Property is a 3 bdr, 1 bath SFR conveniently located near the 55 & 5 FWY in Santa Ana. Property features dual-pane windows, interior/exterior paint, tile/laminate flooring, granite counter tops, custom cabinetry, recessed lighting, stainless steel appliances and remodeled kitchen and bathroom. Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.