Rental SFR in Palmdale, CA

Rental SFR in Palmdale, CA

Property Address

38614 E. Malby Ave, Palmdale, CA 93550
  • Loan Number: 7570
  • County: Los Angeles
  • Appraised Value: $72,000.00
  • Purchase Price: $72,000.00 (short-sale)
  • Loan Amount: $46,800.00
  • Loan Position: 1st
  • Interest: 11% (Fully Amortized Loan)
  • LTV (Loan to Value): 65%
  • Term: 60 Months

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Specifics

LOAN: #7570
SUBJECT PROPERTY: 38614 E. Malby Ave, Palmdale, CA 93550
3-bed/1-bath SFR; 1034 sq ft on a 6498 sq ft lot
APPRAISED VALUE: $72,000.00    
PURCHASE PRICE: $72,000.00 (short-sale)

LOAN AMOUNT: $46,800.00
POSITION: 1st
INTEREST: 11%
TERM: 60 mos (fully-amortized)
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 fully amortized

SPECIFICS:  Our borrower is purchasing this bank-approved short sale property as an investment, and will be marketing it for rent at $1000 per mo after conducting minor repairs. The borrower owns 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.