- Property Address:
Escondido, CA
- Loan Number:
9425K
- APN:
186-360-06-00
- County:
San Diego
- Appraised Value:
$1,250,000.00
- Loan Amount:
$650,000.00
- Loan Position:
1st
- Interest:
11%
- LTV (Loan to Value):
52%
- Term:
12 Months
- Specifics:
SPECIFICS: Borrowers are existing clients of FHLC with an excellent building history. They are building this investment project on a piece of land that they own free and clear. They have plans and are ready to build. They purchased the land in 2022 for $95K. The fund control will be handled by Buildzig for $550K. There will be 8 months of prepaid interest at closing. Mid Fico is 723
