BAKERSFIELD PURCHASE 1ST TD 65% LTV & 10% YIELD
We just sold a $107,000 Purchase Money First Trust Deed for a beautiful, newer, entry level tract home in a nice area of Bakersfield, CA. The yield was 10.25% for 2 years, with 6 months interest guaranteed. The home was four years old with new carpet and paint. This loan was very attractive because of the borrower’s consistent job history and the quality of the neighborhood.
- Loan Request: $107,250
- Loan to Value: 65%
- Rate: 10.0%
- Yield: 10.25%
- Type of Property: SFR
- Term: 2 year
- Interest Guaranty: 6 mos.
- Full Appraisal Value: $165,000
- Condition of Property: Excellent
- Rental Income: $1450.00