Successful business owners, real estate investors sought a cash-out 2nd TD Bridge Loan on their investment property in Irvine, Orange County, CA. The funds from our Mortgage Vintage Bridge Loan will be used to purchase the borrower’s new primary residence in Newport Coast, CA. The borrowers are already under contract on this beautiful new home in Newport Coast and plan to sell the subject property within the next couple months. The exit strategy from our loan is to payoff the loan as soon as the subject property has been sold. The borrower has a 1st TD with Chase Private Client which is in good standing. The balance is $1,945,000 and an interest rate of 3.25%
The subject is a beautiful and very unique, tri-level, contemporary styled SFR that was built recently in 2019. Subject has 18 total rooms including 6 bedroom, 6.5 bathrooms and an attached 3-car garage. It boats 6,782 SF and sits on a 7,133 SF lot. The home features several fireplaces, an open floor plan with a beautiful patio centrally located in the home, and a rooftop patio perfect for entertaining. The home in located in the exclusive Altair gated community with 24/7 guards. It is centrally located in Irvine in close proximity to the Irvine Spectrum, the 241, 133, 5 and 405 freeways, schools, parks, restaurants, shopping, recreation, and medical facilities.
What we like about this Trust Deed opportunity:
- 796 and 710 credit score
- Beautiful high-end irvine, Orange County location
- Successful business owner and real estate investor