- Loan Number: 7822
- Appraised Value: $833,000.00 (combined)
- Loan Amount: $373,000.00
- Loan Position: 1st
- Interest: 10.75%
- LTV (Loan to Value): 45%
- Term: 36 Months
#1) 11566 State Hwy 152, Dos Palos, CA 93620
2-bed/1-bath SFR; 864 sq ft on a 10.7 acre lot (APN 085-190-030)
Appraised Value: $398,000.
#2) 9810 Stephens Street, Delhi, CA 95315
Retail Bldg on an 11,325 sq ft lot (APN 009-130-012)
Appraised Value: $155,000.
#3) 649 and 653 I Street, Los Banos, CA 93635
Mixed Use/Restaurant and store on 1st floor; four residential units above (APNs 025-231-007/008)
Appraised VAlue: $280,000.
LOAN AMOUNT: $373,000.00
TERM: 36 mos
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: All properties are leased and currently generate a combined monthly income of $5,975. The four units on the 2nd story of the Los Banos property are under construction; we will be holding back $80,000 of the loan proceeds and releasing those funds as work is completed.