Investment SFR in Temecula

Investment SFR in Temecula

Property Address

47300 Rainbow Oaks Dr, Temecula, CA 92592
  • Loan Number: 7951
  • APN: 918-240-013
  • County: Riverside
  • Appraised Value: $235,000.00
  • Purchase Price: $211,500.00
  • Loan Amount: $148,000.00
  • Loan Position: 1st
  • Interest: 9%
  • LTV (Loan to Value): 70% of purchase price / 63% of appraised value
  • Term: 48 Months

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Specifics

SUBJECT PROPERTY: 47300 Rainbow Oaks Dr, Temecula, CA 92592 

2-bed/2-bath SFR; manufactured home on perm foundation, w/2-car detached garage on 37,897 sq ft lot 

APN: 918-240-013

APPRAISED VALUE: $235,000.00

PURCHASE PRICE:  $211,500.00

LOAN AMOUNT: $148,000.00
POSITION: 1st
INTEREST: 9.25%
TERM: 48 mos
LTV: 70% of purchase price/63% 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 contains a balloon payment

 

SPECIFICS:  Our borrower is physician with a 783 mid-FICO who is purchasing the subject property as an investment. After close of escrow she will be performing some cosmetic improvements and then marketing the property for rent at $1800 per mo.