New SFR Construction in Cedar Glen, CA

New SFR Construction in Cedar Glen, CA

Property Address

29604 Pine Ridge Drive, Cedar Glen, CA 92321
  • Loan Number: 8038K
  • APN: 0330-164-43
  • County: San Bernardino
  • Appraised Value: $305,500
  • Loan Amount: $200,000
  • Loan Position: 1st
  • Interest: 10.5%
  • LTV (Loan to Value): 65% of as-completed value

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Specifics

LOAN: #8038K
SUBJECT PROPERTY: 29604 Pine Ridge Dr, Cedar Glen, CA 92321 
New construction of a 1,063 sq ft craftsman-style SFR; 3-bed/2-bath on a 7773 sq ft lot  
APN: 0330-164-43  
APPRAISED VALUE: $305,500.00
LOAN AMOUNT: $200,000.00
POSITION: FIRST
INTEREST: 10.5%
TERM: 18 mos
LTV: 65% of as-completed value

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
This loan is interest-only


SPECIFICS:  Our borrower owns multiple lots in the Cedar Glen/Lake Arrowhead area and is an experienced builder with a mid-FICO of 783. Funds will be held in via a fund control account with Buildzig, and disbursed as work progresses.