CEO/Owner of Metal Builders Group and real investor sought a small $115,000 business purpose 2nd Trust Deed loan on this owner-occupied SFR in Chino, San Bernardino County, CA. The loan proceeds will be used on upgrades to borrower’s other commercial investment property in Los Angeles, CA.
The borrower’s 1st mortgage has a principal balance of $382,838 with a fixed interest rate of 2.875%, with $2,994.09/month payment, maturing 08/01/2043. The 1st TD lender impounds tax and insurance.
The subject property is a traditional, two story styled SFR in a nice suburban neighborhood in Chino, CA surrounded by similar SFRs. The subject property consists of 10 total rooms; 4 Bed / 3 bathroom with a 2-car attached garage. The subject property features fireplaces and backyard deck/patio. The subject property is close to Costco, Home Depot, other shopping, restaurants, schools and entertainment venues; south of the 60 FWY.
What we like about this Trust Deed opportunity:
- Good condition SFR in suburban neighborhood
- 12.00% Lender Rate
- 9 months Prepaid Interest
- 6 months Guaranteed Interest
- $343,669 Net Investor Equity Protection
$115,000 2nd TD @ 12.00%, 60.01% CLTV, SFR, Cash Out., $57,500 Min Inv., Chino, CA
