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Trust Deed Investments | Available Trust Deed Investments - Rental SFR and Residential Acreage in Hemet, CA
FUNDED!
LOAN: #72304-bed/4-bath with 4-car attached garage; 2699 sq ft on 2.33 acres
PURCHASE AMOUNT: $220,000.00
APPRAISED VALUE: $250,000.00 (view appraisal)
PROPERTY #2: Additional Collateral - 39724 Vista Road, Hemet, CA 92543
Residential lot w/utilities and horse stables; 2.75 acres (zoned A1-2-1/2 Light Agricultural)
APPRAISED VALUE: $135,000.00 (April 2010 - view appraisal)
LOAN TERMS
LOAN AMOUNT: $205,000.00
POSITION: 1st
INTEREST: 11%
TERM: 60 mos
LTV: 53% Combined Value
There is a late charge of 10% of the payment (after 10 days)
There is no prepayment penalty on this loan
This loan contains a balloon payment
LOAN AMOUNT: $205,000.00
POSITION: 1st
INTEREST: 11%
TERM: 60 mos
LTV: 53% Combined Value
There is a late charge of 10% of the payment (after 10 days)
There is no prepayment penalty on this loan
This loan contains a balloon payment
SPECIFICS: Borrowers are purchasing Subject Property #1 (bank-owned) for $220,000. The property had a previous mortgage of $500,000 procured in 2008. Borrowers have deposited a $36,000 down payment and are providing Subject Property #2 as additional collateral (owned free and clear). After close of escrow the SFR will be marketed for rent for $1,800.00-$2,200.00 per mo. Additionally, there is rental income of $800.00 per mo from a manufactured home on site, and boarding rent from six horse corals currently rented for $200.00 per mo each. Total income is $3800+ per mo.
Information Subject to Change
