Deal Status

Active

Property Address

5641 N Pinnacle Lane

San Bernardino, California

92407

Requested Loan Amount

75000

Loan to Value

75

Loan Term

24

Lien Position

1st

Collateral Type

Residential Property

Exit Strategy

Refinance

Property Type

Land

Property Occupied

No

Loan Type

Refinance

Current Zoning

Array

Entitlement Status

Entitled

Development Status

Planning to Develop Soon

Existing Improvements

Array

Generate Income

No

Multiple Parcels

No

Current Market Value

110000

Existing Mortgages

  • 1st

Mortgage 1 Balance

31000

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

Appraisal

No

Lot Size

0.26

Property Photos

Will additional properties be collateralized?

No

Borrower Entity

Corporation

Borrower Credit Rating

Average

Additional 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

Company

Ameristar Real Estate and Investments Inc

Role

Borrower

Location

San Bernardino
California
USA