Scripps Ranch SFR

Scripps Ranch SFR

Property Address

11106 Ironwood Road, San Diego, CA 92131
  • Loan Number: 7653
  • APN: 363-191-21-00
  • County: San Diego
  • Appraised Value: $740,000.00 (after repair value)
  • Purchase Price: $577,500.00
  • Loan Amount: $404,500.00
  • Loan Position: 1st
  • Interest: 8.75%
  • LTV (Loan to Value): 70% of purchase price / 55% of after-repair value
  • Term: 24 Months

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Specifics

LOAN: #7653
SUBJECT PROPERTY: 11106 Ironwood Rd, San Diego, CA 92131
2-story SFR built in 1972; 5-bed/3-bath; 2530 sq ft on a 6000 sq ft lot w/pool and 2-car garage

APPRAISED VALUE:
$740,500.00 (after repair value)
PURCHASE PRICE: $577,500.00
LOAN AMOUNT: $404,500.00
POSITION: 1st
INTEREST: 8.75%
TERM: 24 mos
LTV: 70% of the purchase price/55% of the ARV 

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:  The subject property is located in the residential community of Scripps Ranch in San Diego County. Our borrower has a mid FICO of 755, and is bringing in over $190k in order to close this transaction. He is purchasing this home to repair/renovate and then resell. The after-repair value is identified in the appraisal as $740,000