Moreno Valley Rental SFR

Moreno Valley Rental SFR

Property Address

21969 Winding Road, Moreno Valley, CA 92557
  • Loan Number: 7543
  • County: Riverside
  • Appraised Value: $185,000.00
  • Loan Amount: $120,000.00
  • Loan Position: 1st
  • Interest: 11%
  • LTV (Loan to Value): 65%
  • Term: 36 Months

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Specifics

LOAN: #7543
SUBJECT PROPERTY: 21969 Winding Road, Moreno Valley, CA
3-bed/2-bath SFR; 1539 sq ft; 2-car attached garage and pool on a 10,890 sq ft lot
APPRAISED VALUE: $185,000.00

LOAN TERMS

LOAN AMOUNT: $120,000.00
POSITION: 1st
INTEREST: 11%
TERM: 36 mos
LTV: 65%

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 purchased the subject property in 2005 for $390,000 and currently owns it free and clear. The monthly rental income is $1600, and the loan proceeds will be used for additional real estate investments.