- Property Address:
Sassafras St and Horton Ave, San Diego, CA 92103
- Loan Number:
9099K
- APN:
451-473-10-00
- County:
San Diego
- Appraised Value:
$1,600,000 (as-completed)
- Loan Amount:
$1,035,000.00
- Loan Position:
1st
- Interest:
10%
- LTV (Loan to Value):
65% of as-completed value
- Specifics:
SUBJECT PROPERTY: New SFR construction4-bed/4-1/2 bath SFR; 3169 sq ft (includes 1-bed/1-bath companion unit)Project includes a carport, covered patio and pool/spa on a 4893 sq ft lot APN 451-473-10-00 (San Diego Co) There is a late charge of 10% of the payment (after 10 days)There is no prepayment penalty on this loanThis loan is interest-onlyOur borrower is a builder and engineer with a 739 mid-FICO; we have funded existing projects for him in the past and he has an excellent payment history with us. The lot was purchased in June 2019 for $325k; we are paying off an existing first of $162k. Buildzig will be managing a fund control account of $798k for the project. This loan includes 3 months of prepaid interest.