Borrowers were seeking this Business Purpose Cash-Out loan to payoff business debt and repair property roof. Borrower has owned the subject property since 2001. Subject is a single story commercial building configured to house 2 tenants one at 1,000 sf and the other is a 3,000 sf suite. The interior build out and design is…
Real estate investor and 18-year employee of the same company was seeking a business purpose cash-out refinance for this non-owner occupied rental property to remodel the kitchen and bathroom. Subject property is a two-level condominium located in the gated complex of Dronfield Villas in Sylmar, a neighborhood located in the San Fernando Valley area of…
Self-employed Borrower was seeking a business purpose cash-out refinance of this non-owner occupied investment property to invest in new real estate ventures and business opportunities. Subject property is a single-story Single Family Residence located in a prime location of the Century City neighborhood of Los Angeles. The home is a 2 BR / 1 BA…
Son and Mother, Borrower and Co-Borrower, were seeking a Business Purpose Cash-Out to make improvements to the Non-Owner Occupied long time inherited family property and to pay delinquent property taxes. Free and Clear subject property is a 1 story, single family residence located in Compton. The Property is a 3 bdrm/1 bath home that is…
Self-employed Borrower was seeking a Business Purpose Cash-Out Refinance to complete construction of a duplex in Compton. The funds will be used to payoff an existing loan and complete construction. $30,000 was collected for funds control. Borrower has put over $100K into the construction of the property. Subject is 80% complete and will be a…
Self-employed Borrower was seeking a business purpose cash out loan on a non-owner occupied SFR property to make improvements to the property in preparation to sell it. Subject is a 2 story, 5 bdrm/2.0 bath, Single Family Residence located in Downey California just South of the 105 FWY and East of the 710 FWY. The…
Borrower was seeking a Business Purpose Cash-Out Refinance to make improvements to the property with an exit strategy of selling the property. Subject has 2 detached, 1 story, single family residences. The two units were built at two different times. Unit one was built in 1933 and unit two was built in 1972. Unit one…
Self-employed, repeat and successful Mortgage Vintage, Inc. Borrower, was seeking a business purpose cash out loan on multi-family property to purchase apartment building in Pomona. Subject is a 10-Unit Multi-Family Property. The property has 6,500 net rentable area. The property has 2 free standing apartment buildings. Each building is 1-story with average quality class “D”…
Self-employed Borrower with excellent credit was seeking a Business Purpose Cash-Out loan to purchase a commercial building for their food products manufacturing business, Dean Distributors. Company has been in business since 1952 and is moving their headquarters from Vernon to San Bernardino. Subject is a 2 story, single family residence located in Hillsborough, CA. Hillsborough…
Borrower was seeking a Business Purpose Cash-Out loan to complete the improvements to the property. Borrower has owned the property since 2015 and will be using funds to finish construction and improvements and then sell property. Subject is a 1 story, single family residence located in Sylmar. Property is north of the 210 FWY. The…
Self-employed borrower was seeking a Business Purpose Cash-Out loan to invest in machine tools and precision measuring devices for their business located in Orange County. Subject is a tri-level condo located in beautiful Newport Beach, California in the Newport Crest community. The Property measures 1,934 sf of gross living area with 4 bedrooms and 2.5…
Self-employed Borrower was seeking a business purpose cash out loan on an owner occupied SFR property to invest into borrowers business by paying off business debt and investing into marketing programs. Subject is a 2 story, 4 bdrm/4.5 ba Single Family Residence located in the gated community of Torrey Highlands in the Carmel Valley community…
Borrowers were seeking this Business Purpose Cash-Out loan to payoff existing conventional loan and use the remaining proceeds to fixup property. Borrowers have owned the subject property since 1987. Subject is a two bldg. 14,563 s.f., single story retail multi-tenant center located in Modesto. The Property sits on a 42,749 s.f. lot with a 4.7/1,000…
Good credit borrower was seeking this Business Purpose Cash-Out Refi loan to make tenant improvements to this single tenant commercial mixed use property. Ownership of property is held in an LLC. Subject consists of 3 contiguous land parcels which together total 1.18 acres. The 8551 Mission Blvd. building consists of an 8,960 sf industrial bldg.…
Good credit score and self-employed Borrower was seeking a business purpose cash out loan on an existing investment SFR property to start the development of the subdivision to eventually build homes. Borrower has owned both the SFR and the property to be developed for a number of years. Borrower is a well-respected architect. In addition,…
Good credit score borrower was seeking a Business Purpose Cash-Out Refinance loan to prepare this non-owner occupied property for sale. Borrower has owned the property since 1999. Subject is a 1 story condo located on the 2nd level with 2 bdrm/2 ba located in the South Coast Terrace community. The Property measures 865 sf of gross…
Borrower, and long-time owner of the Property, was seeking a business purpose cash-out refinance loan to payoff existing 1st TD, make repairs to the property, and payoff other debt.Subject is a 1 story, 5 unit Multi-family property in Hanford, CA (near Fresno). The Property is 100% occupied, rental rates ranging from $800 to $1,150. The Property…
Restaurant owner was looking for a business purpose loan cash-out to pay off the $70k 3rd TD she used to purchase the commercial property. El Caporal’s Tacos draw hungry fans from all over AltaDena and Pasadena. Coupled with outstanding service, the restaurant continues to earn significant income. Previous seller has a carryback 2nd that has subordinated. Borrower…
Borrower was seeking a Business Purpose Cash-Out 2nd TD to fund property improvements. Subject property has been in the family since 1999 and is non-owner occupied and currently rented to Tenants providing a positive cash flow. Subject is a 1 story, 4 bdrm/2 ba Single Family Residence located in West Covina. The Property measures 1,438…
Loan Scenario:
Owner and Business Operator at 919 Sycamore St., Santa Ana CA purchased this property in Santa Ana to expand his business. Owner used the cash out from his free and clear $400k valued – income producing property for the down payment on this $710k purchase of the adjacent property.