Successful repeat Mortgage Vintage borrower and long-time successful business owner sought a rate/term refinance 2nd TD on this owner-occupied SFR in Costa Mesa, Orange County, CA. Mortgage Vintage originated the current 2nd TD loan for this borrower last year and it has since matured. This new loan will payoff our existing business purpose loan and extend the term 18 months. The exit strategy from our loan will be a refinance or to payoff the loan from business proceeds.  The borrower operates his Environmental Water Management Co. which skims, cleans and removes vegitation from H2O w/o chemicals.


The subject property is a single-story cottage-styled home sitting on a huge 9,880 SF lot situated in a very desirable area of Orange County. The home itself is 1,196 SF with 5 total rooms including 2 bedrooms , 1 bathroom and a 2-car detached garage.  The subject is very well maintained and upgraded and features very large front and backyards and a detached garage and office. The lot has plenty of room for ADUs should the borrower choose to go down that path in the future. It is situated in close proximity to public and private schools, shopping, restaurants, entertainment, recreation and medical facilities. The 1st TD has a balance of $709,000 with an 8.99% interest rate and matures 04/01/2025.

What we like about this Trust Deed opportunity:

  • Costa Mesa, Orange County location
  • Long-time successful business owners
  • 11.00% annualized return
  • 6 months Guaranteed Interest
  • 3 months Prepaid Interest
  • 52.02% CLTV/50.40% Net CLTV

$230,000 2nd TD @ 10.50%, 52.02% CLTV, SFR, Refi, $46,000 Min Inv., Costa Mesa, CA