Commercial Property Mixed Use 8 Units with plenty of parking. Two offices on the 1st floor – Six residential units on the 2nd floor.
Borrower has excellent credit.
I sell to principals only.
Type of Loan: 1st Trust Deed
Property Type: Commercial/NOO
Square Footage; 7,615 Sq. Ft..
Appraised Value; $800,000.00
Leverage: 50%CLTV
Proposed Loan Amount: $400,000.00
Interest Rate 12.00%
Term: 36 months
Prepayment Penalty: 6 months
Rental Income; $8,700.00