FUNDED!

LOANS: # 7162
SUBJECT PROPERTY: 359 Oakhurst Dr, San Jacinto, CA 92583
2-bed/1-bath; 864 sq ft w/single-car garage
APPRAISED VALUE: $56,000.00 (view appraisal)

LOAN TERMS

LOAN AMOUNT: $25,000.00
POSITION: 1st
INTEREST: 11%
TERM: 36 months
LTV: 45% of appraised value

There is a late charge of 10% of the payment (after 10 days)
There are no prepayment penalties on these loans
These loans contain a balloon payment

SPECIFICS: Borrower purchased this property at auction for $28,000.00 in August 2009 and performed vast renovations.  The property is now rented for $900.00 per month, and is currently owned free and clear.  Borrower will be using the loan funds to purchase another property.