- Property Address:
475-477 Cesar Chavez, Calexico, CA 92231
- Loan Number:
9391- Luna
- APN:
058-400-012-000
- County:
Imperial
- Appraised Value:
$650,000.00 as of 2/2024 B.P.O.
- Purchase Price:
$650,000.00 in 2018
- Loan Amount:
$255,000.00
- Loan Position:
1st
- Interest:
11.5%
- LTV (Loan to Value):
40%
- Term:
24 Months
- Specifics:
Borrower is an existing client of FHLC with an excellent payment history and is refinancing this investment property because the existing first position has matured. She purchased this property in 2018 for $650,000.00, and she only has a balance due of $95K. Also, she has requested some cash out of approx. $130K. Finally, the borrower currently rents the warehouses for over $13K+ a month. There is no prepayment penalty on this loan.
