Brawley Road, Phelan

This is a purchase for a rental property in Phelan. The borrower is…

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    Loan Description

    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

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      This process is to reserve your loan. Actual loan purchases will be conducted via bank transfer Dismiss