Mixed Use Property in Imperial County

Mixed Use Property in Imperial County

Property Address

6510 English Road, Calipatria, CA 92233
  • Loan Number: 7530
  • APN: 023-050-019-000
  • County: Imperial
  • Appraised Value: $150,000.00
  • Loan Amount: $70,000.00
  • Loan Position: 1st
  • Interest: 11.25%
  • LTV (Loan to Value): 47%
  • Term: 60 Months

View Appraisal

Download

Specifics

LOAN: #7530
SUBJECT PROPERTY: 6510 English Road, Calipatria, CA 92233
15 fenced acres of zoned A2 (general agricultural) land, 2 manufactured homes on permanent foundations, and fenced lot used for agricultural truck and equipment leasing. 
APPRAISED VALUE: $150,000.00

LOAN AMOUNT: $70,000.00
POSITION: 1st
INTEREST: 11.25%
TERM: 60 mos
LTV: 47%

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 refinancing this investment property to pull cash out for their agricultural business. Please note they are making an additional principal buy-down payment each month; in addition to their standard payment on this loan they will be adding $250+ to the payment each month, solely to be applied to the principal loan balance.