Deal Status

Active

Property Address

5641 N Pinnacle Lane , San Bernardino California 92407

Requested Loan Amount

$75,000

Loan to Value

75%

Loan Term

24 months

Lien Position

1st

Collateral Type

Residential Property

Exit Strategy

Refinance

Collateral and Loan Details

Property Type

Land

Owner Occupied

No

Loan Type

Refinance

Current Zoning

Residential Land

Entitlement Status

Entitled

Development Status

Planning to Develop Soon

Existing Improvements

Street Access, Communication

Generate Income

No

Multiple Parcels

No

Current Market Value

$110,000

Existing Mortgages

1st

Mortgage 1 Balance

$31,000

Equity Cash Out

Yes

Equity Cash Out Purpose

Improve Subject Property

Equity Cash Out Details

to payoff first mortgage, taxes, renovate soil reports and make blueprints

Have Appraisal

No

Lot Size

0.26 acres

Will additional properties be collateralized?

No

Borrower Entity

Corporation

Borrower Credit Rating

Average

Property Photos

Attachments

Comments

Vacant infill lot in high end uphill prime location. with mountain views, utilities on the street. Located in the prestigious Verdemont Community, within walking distance from Cal State University of San Bernardino. This is one of the only 3 vacant lots in the community. (owner of the other two are about to break ground and start building soon). My plans are to pay first mtg, make blueprints and apply for a construction loan.

First Name

Jorge

Last Name

Inzunza

Phone Number

(818) 723-1056

Company

Ameristar Real Estate and Investments Inc

Role

Borrower

Location

San Bernardino, California

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