1. Loan Purpose: 766 and 795 credit score borrower and Business owner is seeking the 2nd Trust Deed cash-out loan to invest into their business, Citation Capital (website: https://citationcp.com). The existing first mortgage is with Morgan Stanley with a current balance of $1,290,426.65, a current adjustable interest rate of 2.55%. The first mortgage matures December 1, 2050 and impounds taxes and insurance.
2. Property Description: The subject property is a single-family residence located in the gated community of Hunter’s Creek, in San Juan Capistrano. The property is located on a ¾ acre lot and is 4,043 sf feet. The home features 5 bedrooms, 4.5 bathrooms and 4 car garage and a long driveway that can accommodate 8 cars. The home was built in 2000 and offers stone countertops in the kitchen, Subzero refrigerator, wine refrigerator, a private bedroom suite on the first floor, media room, a saline pool and spa, and a built-in barbecue. The home is located near walking and biking paths leading to the beach, hiking trails, nearby schools, both public and private (such as St. Margaret’s), equestrian facilities, and downtown.
What We Like:
- Business Owner
- Orange County Location
- 766 and 795 credit scores
- 56.06% CLTV
$210,000 2nd TD @ 11.50%, OO, SFR, 56.09% CLTV, $35,000 Min., San Juan Capistrano, CA
