This is a purchase for a rental property in Phelan. The borrower is purchasing the 1700 sq ft property for $330,000 and putting 50% down. We have not completed an appraisal as this is a straight forward purchase deal with 50% Cash down.
$165,000 1st at 50% LTV Purchase Loan
9.49% Yield (10.99% note rate)
12 month prepay penalty term
3 year fixed interest only with a balloon
This process is to reserve your loan. Actual loan purchases will be conducted via bank transfer Dismiss