Rental SFR in Hemet, CA

Rental SFR in Hemet, CA

Property Address

2354 Garland Way, Hemet, CA 92545
  • Loan Number: 7606
  • County: Riverside
  • Appraised Value: $150,000.00
  • Purchase Price: $160,000.00
  • Loan Amount: $103,500.00
  • Loan Position: 1st
  • Interest: 10.5%
  • LTV (Loan to Value): 69%
  • Term: 36 Months

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Specifics

LOAN: #7606
SUBJECT PROPERTY: 2345 Garland Way, Hemet, CA 92545
3-bed/2-bath SFR; 1257 sq ft w/3-car attached garage on a 6098 sq ft lot
APPRAISED VALUE: $150,000.00
PURCHASE PRICE: $160,000.00 

LOAN AMOUNT: $103,500.00
POSITION: 1st
INTEREST: 10.5%
TERM: 36 mos
LTV: 69% of appraised 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 

SPECIFICS:
  Our borrowers are purchasing the subject property as an investment and will be marketing it for rent at $1300 per mo.   


Please note the appraisal mentions a purchase price of $165,000, however the correct purchase price is $160,000.