- Property Address:
20867 Lockford Court, Perris, CA 92570
- Loan Number:
#9440K
- APN:
287-060-014
- County:
Riverside
- Appraised Value:
$1,000,000.00 (As of 11/19/24)
- Loan Amount:
$293,000.00
- Loan Position:
1st
- Interest:
11%
- LTV (Loan to Value):
30%
- Term:
18 Months
- Specifics:
The borrower is a new client of FHLC with an excellent Mid Fico of 721, borrower will be owner-builder and he is employed with Riverside County. He purchased the investment property in 2021 for $100K and owns it free and clear. The borrower has paid over $62K toward plans and permits. He and his building crew are ready to start construction. The construction funds are $254K and will be fund controlled by National Builder Control NBC.
