- Loan Number: 7788
- Appraised Value: $516,000. (combined)
- Loan Amount: $335,500.
- Loan Position: 1st
- Interest: 10.25%
- LTV (Loan to Value): 65%
- Term: 36 Months
SpecificsSUBJECT PROPERTY #1: 42305 N. Shore Drive, Fawnskin, CA 92333 (Big Bear area)
1,601 sq ft SFR w/a 500 sq ft guest house and 2-car garage on a 19,875 sq ft lot
SUBJECT PROPERTY #2: 9643 Sypglass Ave, #41, Desert Hot Springs, CA 92240
1-bed/1-bath condo; 567 sq ft
COMBINED APPRAISED VALUE: $516,000.00
SPECIFICS: Our borrower is refinancing these investment properties; we are paying off an existing first of approximately $267k. She will be obtaining some cash out as well for improvements on rental properties and cash reserves. The borrower has a 685 mid-FICO and is an experienced real estate investor.