Cabin Purchase in Big Bear

Cabin Purchase in Big Bear

Property Address

444 Dixie Lane, Big Bear Lake, CA 92315
  • Loan Number: 7979
  • APN: 0307-106-75
  • County: San Bernardino
  • Appraised Value: $172,000
  • Purchase Price: $161,500
  • Loan Amount: $111,500
  • Loan Position: 1st
  • Interest: 10%
  • LTV (Loan to Value): 69% of purchase price
  • Term: 36 Months

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LOAN: #7979
SUBJECT PROPERTY: 444 Dixie Lane, Big Bear Lake, CA 92315
768 sq ft Cabin with 1-bed/1-bath, on a 2,250 sq ft lot with all utilities 
APN: 0307-106-75 (San Bernardino County)
APPRAISED VALUE: $172,000.00
PURCHASE PRICE: $161,500.00
LOAN AMOUNT: $111,500.00
TERM: 36 mos 
LTV: 65% of appraised value / 69% of purchase price 

There is a late charge of 10% of the payment (after 10 days)
There is a balloon payment on this loan
This loan is partially amortized

SPECIFICS:  Our co-borrowers are purchasing this property as an investment property to lease year-round in the popular vacation area of Big Bear Lake, CA. They are putting 30% down and paying all closing costs. One of the borrowers is a tribal member of the Soboba Band of Luiseno Indians, which generates $6K of monthly income in addition to her self-employment.