Rental SFR in Ramona, CA (San Diego Co)

Rental SFR in Ramona, CA (San Diego Co)

Property Address

717 F Street, Ramona, CA 92065
  • Loan Number: 7627
  • APN: 284-191-13-00
  • County: San Diego
  • Appraised Value: $204,000.00
  • Purchase Price: $192,000.00
  • Loan Amount: $134,400.00
  • Loan Position: 1st
  • Interest: 9%
  • LTV (Loan to Value): 70% of purchase price / 66% of appraised value
  • Term: 36 Months

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SUBJECT PROPERTY: 717 F Street, Ramona, CA 92065
2-bed/2-bath SFR; 1128 sq ft on a 7841 sq ft lot; APN 284-191-13-00
PURCHASE PRICE: $192,000.00
APPRAISED VALUE: $204,000.00
LOAN AMOUNT: $134,400.00
TERM: 36 mos
LTV: 70% of purchase price/66% 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 is a local, experienced real estate investor with a 640 FICO. He will be renovating this home as follows, utilizing his own funds, before renting it for $1500 per mo: new exterior and interior paint, new flooring throughout, new bathroom fixtures including sinks and showers/bathtubs, granite counter-tops in kitchen with completely refinished cabinets. He has deposited over $60k into escrow and this purchase is ready to fund/close.