FUNDED!

LOAN: #7495

SUBJECT PROPERTY: 28945 Erickson Court, Highland, CA

4-bedroom/3-bath SFR; 3486 sq ft w/3-car attached garage on 8145 sq ft lot

Gorgeous home in a new development in Highland.

APPRAISED VALUE: $355,000.00 (view appraisal)

PURCHASE PRICE: $355,000.00

LOAN TERMS

LOAN AMOUNT: $248,500.00

POSITION: 1st

INTEREST: 11%

TERM: 60 mos

LTV: 70%

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 borrowers are purchasing this home as an investment and will be marketing it for rent at $2500 per mo. The home originally sold in 2006 for $793,000. The family room, kitchen, and back yard offer panoramic valley views. The buyers are bringing in $106,500 as a down payment, as well as paying all loan closing costs. They have strong FICO scores and will look to refinance once conventional lending is more easily available.  

Information Subject to Change