Business owner sought this business purpose 2nd Trust Deed loan on this owner-occupied single-family residence in Santa Ana,Orange County, CA. 100% of the loan proceeds will be used to towards the borrower’s business, Harbor Sofas and Mattresses, to increase sales. Borrower states that he recently partnered with Wayfair to help expand his furniture business. The borrower’s 1st mortgage is with Shellpoint and has a principal balance of $338,137.50 with a fixed interest rate of 3.99%, and a PITI payment of $3,031.85/month.
The subject property is a 2,540 SF traditional styled single-family residence which sits on a 6,650 SF lot. The home features 9 total rooms including 5 bedrooms and 2.5 bathrooms. There is also an attached 3 car garage. The subject property is conveniently located near major transportation and within 1 mile of school, shopping centers, parks, restaurants, banks, and medical offices.
What we like about this Trust Deed opportunity:
- Business owners
- 12.00% Lender Rate
- 3 months Prepaid Interest
- 6 months Guaranteed Interest
$325,000 2nd TD @ 12.00%, 53.05% CLTV, SFR, CO, $32,500 Min Inv., Santa Ana, CA
