Paid Off 9/5/18.
East Palo Alto, Myrtle, CA 94303
**New PURCHASE Hot Rare Silicon Valley Remodeled Luxury, newer YEAR 2000 built Home**
Appraised Value: $1,300,000
Purchase Price: $1,1150,000
New 1st Trust Deed: $779,000
Protective Equity: $521,000
Loan to Value: 69% Ltv
Loan to Cost: 59% Ltv
Term 2 Years with a 6 Month Pre Pay
STRONG Borrower Credit: 709
To Be Rented For $5,900 per Month.
He is a small business owner for the last 18 years. He is an independent technology worker for a large online retailer. The family also own another 2 rental home in the Bay Area.
The seller is a local long term investor and has offered a second note to help close the loan.
This is great security for the new first because the seller is a very high net worth individual.