$145K 3rd lien position 50% CLTV in Nashville Metro Market
Selling this high-yield low-risk loan on a beautiful +/- 5500 sf home on 5.5 acres in suburban Nashville. Two-year interest-only loan at 12% annualized. Appraisal from 10 years ago indicated $800K value; since then, the median home price in this upscale suburb has increased approximately 35%. The $1,000,000 suggested property value is based on a conservative approach using the 2008 appraisal + 25%. 1st Lien Payoff amount includes 1st Mortgage (approx $300K) and HELOC (approx. $50K). Borrowers are conscientious, one has a steady job with a title/escrow company, the other is a real estate agent and entrepreneur, and is a military veteran.