Successful Mortgage Vintage borrower and long-time business owner sought a business purpose cash-out 2nd TD on this owner-occupied San Juan Capistrano SFR to refinance the existing 2nd and the cash-out funds will be used to invest back into his real estate finance business, Real Estate Finance & Consulting | Citation Capital Partners (citationcp.com)
The subject property is a beautiful two-story Colonial style 3 BR/4.5 BA SFR located on a cul de sac street in San Juan Capistrano in Orange County. The home measures 3,807 sf of gross living area with a 3-car attached garage and is situated on a 7,009 sqft lot. The subject property is very close to the 5 freeway, shopping, restaurants, recreation and medical facilities. The 1st TD is held by First Horizon Bank with an interest rate of 8.00%. Monthly payment on the 1st is $7,564.90 PITI.
What we like about this Trust Deed opportunity:
- Orange County location
- 39.26% CLTV; 39.01% Net CLTV
- Long-time business owner
- Successful MVI Borrower
$400,000 2nd TD @ 11.00%, 39.26% CLTV, OO, 36 mo. term, $40,000 Min Inv., San Juan Capistrano, CA
