Self-employed and long-time business owner was seeking a cash-out 2nd TD on this beautiful owner-occupied property in Los Angeles county. Proceeds from this loan were used to invest into borrower’s business.
The subject property is a unique SFR featuring a main house, guest house, storage units and horse stables. The main house is over 4,000 SF with 7 total rooms and 3 BR/2.5 BA. Subject sits on 4 acres of land and features an unpermitted 1 BR/1 BA guest house with a kitchen and several storage units and stables. Only the main house was considered in the determination of the $1.95M value.