6901 Magnolia St
Lithonia, GA 30058 · Closing May 22, 2026
2nd Position note
$47,438
Note amount
$47,438
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 recorded security deed with power of sale on a property in Lithonia's 30058 market.
Note snapshot
- Principal
- $47,437.62
- Lien position
- 2nd Position
- Interest rate
- 4% per month (flat)
- Monthly accrued interest
- $1,897.50
- Lender fees
- $11,250.00
- Effective date
- May 22, 2026
- Maturity date
- February 22, 2027 (extended from November 22, 2026)
- Payments
- Single balloon at maturity
- County
- DeKalb County, GA
Payoff at maturity
- Principal
- $47,437.62
- Lender fees
- $11,250.00
- Principal + fees
- $58,687.62
- Interest (9 months × $1,897.50)
- $17,077.50
- Estimated payoff at maturity
- $75,765.12
Asset-based underwriting
This GAP funding loan is secured by a Georgia security deed with power of sale, in second position subordinate only to permitted senior liens.
- Second-Position Security Deed
- Power of Sale
- 4% Per Month Flat Interest
- $11,250 Lender Fees Earned at Funding
- Balloon Payoff at Maturity
- Georgia Governing Law
Borrower
The borrower is a Maryland limited liability company. The loan agreement and security deed were executed and notarized.
Location
Lithonia, GA 30058
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.