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Trust Deed Investments | Available Trust Deed Investments - Budget Inn El Centro
FUNDED!
LOAN: #7311
SUBJECT PROPERTY: El Centro Budget Inn
29 guest rooms; pool and spa; laundry room
PURCHASE PRICE: 525,000.00
APPRAISED VALUE: $600,000.00 (March 2010)
Click here to view the appraisal
LOAN TERMS:
LOAN AMOUNT:$275,000.00
POSITION: 1st
INTEREST: 11%
TERM: 24 mos
LTV: 52%
There is no prepayment penalty on this loan
This loan contains a balloon payment
LOAN AMOUNT:$275,000.00
POSITION: 1st
INTEREST: 11%
TERM: 24 mos
LTV: 52%
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: Our borrower is purchasing this Budget Inn as an investment. He is putting 48% down and paying all closing costs. Borrower will be making weekly payments.
