5 Rental SFRs in California City, CA

  • Loan Number: 7842
  • County: Kern
  • Appraised Value: $358,000.00
  • Loan Amount: $232,700.00
  • Interest: 10.75%
  • LTV (Loan to Value): 65%
  • Term: 48 Months

Specifics

SUBJECT PROPERTIES:  

1) 19812 Airway Blvd, California City, CA 93505; 3-bed/2-bath; 1653 sq ft w/2-car garage
2) 9213 Catalpa Ave, California City, CA 93505; 3-bed/1.5-bath; 1100 sq ft w/1-car garage
3) 8812 Peach Ave, California City, CA 93505; 3-bed/2-bath; 1437 sq ft w/2-car garage
4) 21236 Victor Way, California City, CA 93505; 3-bed/2-bath; 1286 sq ft w/2-car garage
5) 8061 Greenwood Ave, California City, CA 93505; 3-bed/2-bath; 1224 sq ft w/2-car garage


COMBINED APPRAISED VALUE:
$358,000.00
LOAN AMOUNT: $232,700.00
POSITION: 1st
INTEREST: 10.75%
TERM: 48 mos (amortized over 20 yrs)
LTV: 65%
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 has a 622 mid-FICO and is refinancing the subject properties to pay off current loans that are coming due. The properties are rented for combined income of $3,850 per mo.