Repeat borrower and experienced investor under contract to acquire the subject property for $740k with intentions of adding it to their existing rental portfolio. Subject is an SFR located in Oxnard, CA. Property is appraised for $775k As-Is, a decent premium to purchase price, and a CDA was ordered to confirm the value was acceptable. Sponsor has great credit with a mid-score of 780. Loan structured and priced in accordance with the qualification model, with borrower opting for a 30yr fixed-rate loan with a 10yr initial interest-only period. Total loan 80% LTC & 76.4% LTV
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