FUNDED!

LOAN: #7467

SUBJECT PROPERTY: 12912 Truman St, Salinas, CA 93906

3-bed/2-bath SFR w/2-car attached garage; 1142 sq ft on 8198 sq ft lot.

PURCHASE PRICE: $190,000.00

APPRAISED VALUE: $195,000.00 (view appraisal)

ADDITIONAL COLLATERAL: 43174 Remann AVe, Old Station, CA 96071

3-bed/2-bath SFR; 1400 sq ft w/864 sq ft detached garage/workshop on 10,890 sq ft lot.

APPRAISED VALUE: $178,000.00 (view appraisal)

LOAN TERMS

LOAN AMOUNT: $220,000.00

POSITION: 1st (on both properties)

INTEREST: 11%

TERM: 36 mos

LTV: 60%

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 property #1 in Salinas as an investment property and will be marketing it for rent at $1500 per mo.  The additional collateral (prop #2 in Old Station) is currently owned free and clear and is rented for $900 per mo.  The borrower is a long-term client of FHLC. 

Information Subject to Change