Rental SFR in Palmdale, CA

Rental SFR in Palmdale, CA

Property Address

1840 E. Ave Q-6, Palmdale, CA 93550
  • Loan Number: 7508 Fully Amortized!
  • County: Los Angeles
  • Appraised Value: $72,500.00
  • Purchase Price: $70,000.00
  • Loan Amount: 45,000.00
  • Loan Position: 1st
  • Interest: 11%
  • LTV (Loan to Value): 62% of appraised value / 64% of purchase price
  • Term: 60 Months

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Specifics

LOAN: #7508

SUBJECT PROPERTY: 1840 E. Avenue Q-6, Palmdale, CA 93550 

3-bed/2-bath SFR; 1415 sq ft on a 6403 sq ft lot  

APPRAISED VALUE: $72,500.00     

PURCHASE PRICE: $70,000.00  


LOAN TERMS

 

LOAN AMOUNT: $45,000.00

POSITION: 1st

INTEREST: 11%

TERM: 60 mos

LTV: 64% of purchase price / 62% 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 is fully amortized 

SPECIFICS:  Our borrower is purchasing the subject property as an investment, and will be marketing it for lease at $1200 per month. He is putting 35% down and paying all closing costs. The borrower owns a furniture store and several other rental properties in the area. This loan is fully amortized; at the end of the loan term the loan will be paid in full.