Estate-Sized Rental SFR in Hemet, CA

Estate-Sized Rental SFR in Hemet, CA

Property Address

30115 Kiowa Circle, Hemet, CA 92543
  • Loan Number: 7676
  • County: Riverside
  • Appraised Value: $575,000.00
  • Purchase Price: $575,000.00
  • Loan Amount: $403,000.00
  • Loan Position: 1st
  • Interest: 10.75%
  • LTV (Loan to Value): 70%
  • Term: 36 Months

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Specifics

LOAN: #7676

SUBJECT PROPERTY: 30115 Kiowa Circle, Hemet, CA 92543 

5-bed/3-1/2 bath SFR w/pool; 4919 sq ft on 2.5 acres  

APPRAISED VALUE: $575,000.00 

PURCHASE PRICE: $575,000.00 

LOAN AMOUNT: $403,000.00
POSITION: 1st
INTEREST: 10.75%
TERM: 36 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 existing FHLC clients with an excellent payment history. They filed for BK in 2012 to reorganize their business assets and have paid all creditors through the BK. Throughout that time they never missed a payment on their existing FHLC obligations. We have both trustee and title approval for the borrowers to conduct the purchase. They are putting 30% down and paying all closing costs. The home was built in 2008; the borrowers will be performing some finishing touches before marketing it for rent.