Rental Purchase Loan Funded – San Bernardino

San Bernardino, CA

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Property / Loan Information
Property Type SFR
Lien Position 1st TD
Loan Amount $86,250
Purchase Price $115,000
Occup Non-Owner Occ.
Interest Rate 11.25%
LTV on Purch. Price 75.00%
Loan Type Rental Purchase
Amortization 40 Year amort/due in 3 years
Guaranteed Interest 6 months



Loan Scenario:

Real Estate Investor looking to purchase this SFR for rental income.  Borrower is putting over $29,000 own cash to purchase the property. He plans to repair and hold until he can obtain a conventional refinance. Property is a 3 bed, 1 bath SFR sitting on a large 8,190 sq. ft. lot with Mountain View.  Estimated rent is $1,088/mo.  Mortgage Vintage, Inc. was able to fund the loan quickly within 3 business days from receiving the signed Term Sheet.