Rental SFR in Stockton - Fully Amortized

Rental SFR in Stockton - Fully Amortized

Property Address

2627 McComb Ave, Stockton, CA 95205
  • Loan Number: 7537
  • County: San Joaquin
  • Appraised Value: $95,000.00
  • Purchase Price: $80,000.00
  • Loan Amount: $52,000.00
  • Interest: 11%
  • LTV (Loan to Value): 65% of purchase price / 55% of appraised value
  • Term: 60 Months

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Specifics

LOAN: #7537

SUBJECT PROPERTY: 2627 McComb Ave, Stockton, CA 95205

3-bed/2.5 bath SFR; 1499 sq ft on 6098 sq ft lot   

APPRAISED VALUE: $95,000.00    

PURCHASE PRICE: $80,000.00 (short-sale)

  

LOAN TERMS

 

LOAN AMOUNT: $52,000.00

POSITION: 1st

INTEREST: 11%

TERM: 60 mos

LTV: 65% of purchase price/55% 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 this home as an investment/rental property. He is putting 35% down and paying all closing costs. This loan is fully amortized; at the end of the loan term the loan will be paid in full. The property will be marketed for rent at $1300 per mo.