Closed! Hard Money Loan in Santa Barbara: $700,000 @10.00%, 2nd TD, Cash-Out, Mixed-Use, 52.98% CLTV
Loan Purpose Current successful Mortgage Vintage borrower sought a cash out 2nd TD to finish construction. The loan is structured as a business-purpose, non-owner-occupied second trust deed to provide capital for the continued renovation and ADU conversion of the subject property. Loan proceeds are intended to support construction and improvement activities designed to enhance the property’s utility and…
