Successful Mortgage Vintage Borrower and Real Estate Investor is seeking a Business Purpose Refinance 2nd Trust Deed on this owner occupied property in Buena Park.  This is refinance of an existing loan. The original loan was used to to acquire 8-acres of fully entitled and permitted land in Indio, CA to build a 132 bed assisted living facility. The Borrower will be bringing in approximately $70,500 of funds to close the loan.

Existing first mortgage is with Wescom Credit Union with a balance of $236,604 and an interest rate of 3.99%. The loan matures November 1, 2045. The first impounds for taxes and insurance.

This single-story single family residence was built in 1957.  The home has 1,200 sqft of livable space with 4 BR and 2 BA and 7 total rooms.  The kitchen and bathrooms have been recently updated. Property is in the heart of Buena Park situated close to the 5 & 91 fwys and Knotts Berry Farm.  Schools, shopping, restaurants and parks are all nearby.

What we like about this Trust Deed opportunity:

  • Successful MVI Borrower
  • Borrower bringing in $70K to close
  • Conventional 1st mortgage @ 3.99% with WestCom
  • Orange County location
  • Kitchen and bathrooms recently remodeled
  • 55.14% Net CLTV

$210,000 2nd TD @ 11.50%, OO, SFR, 56.09% CLTV, $35,000 Min., San Juan Capistrano, CA

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