Fontana, California Funded Loan

Our Client/Borrower, was seeking a new $549,500.00 1^st Trust Deed Loan on the Investment Property she owns in Fontana, California.

The purpose of the Proposed $549,500.00 1^st Trust Deed Loan is to payoff the existing 1^st Trust Deed Loan, outstanding Property Taxes and numerous City Liens.  The borrower was NOT looking to obtain any Cash Out.

There is a $30,000.00 2^nd Trust Deed Loan that is currently recorded against the Subject Property, and the Investor/Beneficiary has agreed to Subordinate behind the Proposed $549,500.00 1^st Trust Deed Loan.

The Subject Property is currently generating $6,400.00 in monthly income.

The Single-Family Residence is rented to a family member for $1,400.00 per month

The Church structure is rented for $2,000.00 per month, which includes “2” of the “4” Offices located in the Back Structure.

A trucking company “Parks” their trucks behind the “Back Structure” and also rents “1” of the “4” Offices located in the Back Structure for a total of $2,400.00 per month.

The remaining “Office” in the Back Structure is rented for $600.00 per month in Fontana, California.

The borrower has just informed the Mortgage Broker and us that she is about to enter into an “Additional Lease Agreement” from another Church to rent the Church Structure for evening services.  She informed us that the new “Additional Lease” will be for $1,500.00 per month.

We have made it a requirement that the borrower and the “Additional Church” enter into the New Lease Agreement, and that further we be provided with a copy of the New Lease Agreement prior to the proposed $549,500.00 1^st Trust Deed Loan being funded.