Successful Business Owner was in search a small business purpose cash-out 2nd Trust Deed on this owner-occupied SFR in Fullerton, Orange County, CA. Loan proceeds will be used for a capital infusion and expansion into the borrower’s manufacturing business, New Era Uretane, Inc. The exit strategy from our loan is a refinance within the next 12-18 months and/or to pay it off from business proceeds post-expansion.
The subject property is a 1,174 SF, Ranch Styled, Single Family Residence located in a nice suburban area of Fullerton, Orange County, CA. Sitting on a 7,776 SF lot, the home consists of 7 total rooms which includes 4 bedrooms and 2 full bathrooms. The property is a corner lot with large front and back yards, an attached 2-car garage and a covered deck and patio. The home is located just North of the 91 and 5 Freeways and is in close proximity to schools, parks, shopping, hospitals and entertainment.
The borrower’s 1st Mortgage is a conventional loan with a balance of $203,000 and an interest rate of 3.00%. The total monthly payment is $1,925.42 (PITI).
What we like about this Trust Deed opportunity:
- Very low 41.93%% CLTV, 41.48% Net CLTV
- Successful business owner
- 6 months’ Guaranteed Interest
- 3 months’ Prepaid Interest
- Standard SFR in nice neighborhood, Orange County