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Repeat borrower and experienced investor looking to recoup a portion of their initial outlay from when they acquired the subject property located in Reseda, CA for $675k in cash about a week ago. Subject is an SFR and appraised for $735k As-Is and a CDA was ordered to confirm the value was acceptable. The property is currently vacant with the appraiser estimating its market rent to be $4.4k per month. Sponsor has great credit with a mid-score of 763 and bank statements evidence sufficient liquidity. Loan structured and priced in accordance with the qualification model and guidelines on delayed-purchase financing. Total loan amount 80% LTC & 73.5% LTV.
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