1562 Lakewood Ave SE
Atlanta, GA 30315 · Closing May 19, 2026
2nd Position note
$51,497
Note amount
$51,497
Interest rate
4% / month
Term
9 months
Lien position
2nd Position
Note overview
WholeSale Lending is offering a second-position GAP funding note secured by a recordable security deed on a property in Atlanta's 30315 market.
Note snapshot
- Principal
- $51,497.06
- Lien position
- 2nd Position
- Interest rate
- 4% per month (flat)
- Monthly accrued interest
- $2,059.88
- Lender fees
- $11,250.00
- Effective date
- May 19, 2026
- Maturity date
- February 20, 2027 (extended from November 20, 2026)
- Payments
- Single balloon at maturity
- County
- Fulton County, GA
Payoff at maturity
- Principal
- $51,497.06
- Lender fees
- $11,250.00
- Principal + fees
- $62,747.06
- Interest (9 months × $2,059.88)
- $18,538.92
- Estimated payoff at maturity
- $81,285.98
Asset-based underwriting
This GAP funding loan is secured by a recordable second-position security deed, subordinate only to approved senior liens.
- Second-Position Security Deed
- 4% Per Month Flat Interest
- $11,250 Lender Fees Earned at Funding
- Balloon Payoff at Maturity
- Assignment of Rents Included
- Georgia Governing Law
Borrower
The borrower is a New Jersey limited liability company. The loan agreement was executed and notarized on May 19, 2026.
Location
Atlanta, GA 30315
Open in MapsFor investment evaluation purposes only. ARV is an estimated post-renovation value and is not a guarantee of future value or sale price. Prospective purchasers should independently verify property value, comparable sales, square footage, title, lien position, construction estimates, loan documents, escrow arrangements, borrower information and all other due-diligence materials.