- Property Address:
444 Dixie Lane, Big Bear Lake, CA 92315
- Loan Number:
7979
- APN:
0307-106-75
- County:
San Bernardino
- Appraised Value:
$172,000
- Purchase Price:
$161,500
- Loan Amount:
$111,500
- Loan Position:
1st
- Interest:
10%
- LTV (Loan to Value):
69% of purchase price
- Term:
36 Months
- Specifics:
LOAN: #7979SUBJECT PROPERTY: 444 Dixie Lane, Big Bear Lake, CA 92315768 sq ft Cabin with 1-bed/1-bath, on a 2,250 sq ft lot with all utilities APN: 0307-106-75 (San Bernardino County) APPRAISED VALUE: $172,000.00PURCHASE PRICE: $161,500.00LOAN AMOUNT: $111,500.00POSITION: 1stINTEREST: 10%TERM: 36 mos LTV: 65% of appraised value / 69% of purchase price
There is a late charge of 10% of the payment (after 10 days)There is a balloon payment on this loanThis loan is partially amortized
SPECIFICS: Our co-borrowers are purchasing this property as an investment property to lease year-round in the popular vacation area of Big Bear Lake, CA. They are putting 30% down and paying all closing costs. One of the borrowers is a tribal member of the Soboba Band of Luiseno Indians, which generates $6K of monthly income in addition to her self-employment.