FALLBROOK 2ND TD 11% YIELD ONE YEAR TERM!
We just sold a $200,000 1st Trust Deed for a non-owner Condo two blocks from the beach in Santa Monica, CA. The yield was 10.0% for 2 years, with 6 months interest guaranteed. The Property was nicely upgraded and had ocean views from the balcony. This refinance was particularly attractive because of the low loan-to-value 22%, the ocean views, and the proximity to the ocean.
- Loan Request: $200,000
- Loan to Value: 22%
- Rate: 10.0%
- Yield: 10.0%
- Type of Property: CONDO
- Term: 2 year
- Interest Guaranty: 6 mos.
- Full Appraisal Value: $950,000
- Condition of Property: Excellent
- Rental Income: $3800.00
