New SFR Construction in Big Bear Lake

New SFR Construction in Big Bear Lake

Property Address

267 Stony Creek Rd, Big Bear Lake, CA 92315
  • Loan Number: 7969K
  • APN: 0311-511-37
  • County: San Bernardino
  • Appraised Value: $765,000 (as-completed)
  • Loan Amount: $496,250
  • Loan Position: 1st
  • Interest: 10.5%
  • LTV (Loan to Value): 65% of as-completed value

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Specifics

SUBJECT PROPERTY: 267 Stony Creek Rd, Big Bear Lake, CA 92315
APN: 0311-511-37
New construction: 3-bed/3-1/2 bath SFR; single-story, 2600 sq ft w/2-car garage on a 30,000 sq ft lot
APPRAISED VALUE: $765,000.00

LOAN AMOUNT: $496,250.00

POSITION: 1st

INTEREST: 10.5%

TERM: 18 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 is interest-only 

This loan contains a balloon payment

 

SPECIFICS:  Our borrower has a 710 Equifax credit score, and will be marketing this single-story SFR for sale once construction is complete. We are paying off an existing land loan on the property, and will be utilizing Buildgiz for the fund control management of this project.