LA County Residential Acreage

LA County Residential Acreage

Property Address

Palmdale/Carson Mesa Area
  • Loan Number: 7613
  • APN: 3053-031-031
  • County: Los Angeles
  • Appraised Value: $285,000.00
  • Loan Amount: $99,750.00
  • Loan Position: 1st
  • Interest: 11%
  • LTV (Loan to Value): 35%
  • Term: 36 Months

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Specifics

LOAN: #7613
SUBJECT PROPERTY: Elevated Residential Vacant Lot in Palmdale, CA (Carson Mesa Area)
APN 3053-031-031 (zoned LCA11); approx 9.92 AC/432,004 sq ft
APPRAISED VALUE: $285,000.00

LOAN AMOUNT: $99,750.00
POSITION: 1st
INTEREST: 11%
TERM: 36 mos
LTV: 35%

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 a real estate investor currently residing in Texas; we will be bringing property taxes current on the subject property and creating an impound account for the first 6 mos of loan payments. The remaining loan proceeds will go towards rehab work on the borrower's other investment properties.