New SFR Construction in Big Bear Lake, CA

New SFR Construction in Big Bear Lake, CA

Property Address

699 Conklin Road, Big Bear Lake, CA 92315
  • Loan Number: 7932K
  • APN: 0309-145-18
  • County: San Bernardino
  • Appraised Value: $610,000.00 (As-completed)
  • Loan Amount: $400,000.00
  • Loan Position: 1st
  • Interest: 10.5%
  • LTV (Loan to Value): 65%

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Specifics

SUBJECT PROPERTY: 699 Conklin Road, Big Bear Lake, CA 92315
APN 0309-145-18
New construction of a 4-bed/3-bath, 2383 sq ft SFR w/2-car garage and decks on a 14,873 sq ft lot

APPRAISED VALUE:
$610,000
LOAN AMOUNT: $400,000.00
POSITION: 1st
INTEREST: 10.5%
TERM: 18 mos
LTV: 65%

There is a late charge of 10% of the monthly payment (after 10 days)
This loan is interest-only
This loan does not include a pre-payment penalty 

SPECIFICS: Our co-borrowers are husband and wife with individual credit scores of 664 and 750. The home will have hardwood floors, stone counter-tops and built-in stainless steel appliances, with custom landscaping and hardscape. Once construction nears completion they will be marketing the property for sale.