Fully Amortized 1st TD in Palmdale, CA

Fully Amortized 1st TD in Palmdale, CA

Property Address

1740 E. Avenue Q-6, Palmdale, CA 93550
  • Loan Number: 7525
  • County: Los Angeles
  • Appraised Value: $60,500.00
  • Purchase Price: $62,000.00
  • Loan Amount: $39,325.00
  • Loan Position: 1st
  • Interest: 11%
  • LTV (Loan to Value): 62% of purchase price / 65% of appraised value
  • Term: 60 Months

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Specifics

LOAN: #7525

SUBJECT PROPERTY: 1740 E. Avenue Q-6, Palmdale, CA 93550 

3-bed/1-bath SFR; 1010 sq ft w/attached 2-car garage on a 6508 sq ft lot 

APPRAISED VALUE: $60,500.00 

PURCHASE PRICE: $62,000.00 (short-sale)


LOAN TERMS

 

LOAN AMOUNT: $39,325.00

POSITION: 1st

INTEREST: 11%

TERM: 60 mos (fully-amortized) 

LTV: 63% of purchase price/65% of appraised value 

There is a late charge of 10% of the payment (after 10 days)
There is no prepayment penalty on this loan
This loan is fully-amortized 

SPECIFICS:  Our borrower is purchasing the subject property as an investment, and has already secured a tenant at $1300 per mo.  He is putting 35% down and paying all closing costs.  The borrower owns a furniture store and several rental properties in the Palmdale area.

                                                             Information Subject to Change