Borrower sought a 1st TD cash-out bridge loan cross-collateralized on current primary residence ‘Free and Clear” Condo in Culver City, Los Angeles, CA and their future primary residence SFR in San Clemente Orange County, CA. The funds from our loan will be used towards purchasing the San Clemente subject property currently in escrow while they are prepping to sell their Condo.
The 1st TD is on the Condo in Culver City and SFR in San Clemente. Borrower is bringing $1M cash to close for Purchase.
The San Clemente purchase subject property is a single story, bungalow style, SFR with 1,212 SF living space on a 2,988 SF lot on the hillside with nice views. The subject property is located is the highly desirable suburban, beach community in San Clemente. The subject property has 5 rooms, 2 BED / 2 BA , 2 car attached garage and features a jacuzzi/patio. The subject property is very well located near beaches, schools, many large shopping plazas, restaurants, parks and 5 FWY and PCH HWY.
The Culver City subject property is a single story, urban style Condo with 730 SF living space on a 4.85 acres lot in Culver City The subject property has 3 rooms, 1 BED / 1 BA , 1 car detached garage. The subject property is very well located near in Westlake Village, near many schools, shopping plazas, restaurants, near the 405 FWY.
What we like about this Trust Deed opportunity:
- $1M “Skin in Game” Down Payment towards new Purchase
- 15.33% LTV on a 1st TD Cross two subject properties
- 9.00% Interest Yield