Business owners sought a $100,000 2nd Trust Deed bridge loan on this owner-occupied single-family residence in Canyon Lake, Riverside County, CA. The property is listed for sale and is currently in escrow. The loan proceeds will be used to make some repairs to the property requested by the buyer. The borrower’s 1st mortgage is with Citizens Bank and has a principal balance of $829,000 with a fixed interest rate of 3.75%, and a PITI payment of $5,403.75/month.
The subject property is a 4,120 SF contemporary styled single-family residence which sits on a 11,326 SF lot. The home features 10 total rooms including 5 bedrooms and 4 bathrooms. This is a beautiful property located at the end of a cul-de-sac which provides for an larger than average lot size. The home offers view of the nearby Canyon Lake. The home is completely upgraded throughout and shows like a model home. Upgrades include travertine floors, granite counters, stainless appliances, stone showers, surround sound throughout the home, a theater room, solar panels, central vac, and epoxy garage floors.
What we like about this Trust Deed opportunity:
- 59.94% CLTV, 59.68% Net CLTV
- 12.50% Lender Rate
- 11 month loan term
- Bridge Loan
