Business owner sought a $245K 2nd Trust Deed business purpose loan on this owner-occupied SFR in Costa Mesa, Orange County, CA. 100% loan proceeds will be used for investment opportunities.
The borrower’s 1st mortgage has a principal balance of $800,000 with a fixed interest rate of 4.25%, maturing November 2061 and a payment of $2,833/mo. The first lender impounds for taxes and insurance.
The subject property is a single story, ranch styled, SFR on a corner lot in good condition in a nice east-side suburban neighborhood of Costa Mesa, CA. The SFR features 2,509 SF total living space sitting on a .16 acres lot with a total of 8 rooms, 5 Bedroom / 3 BA and a attached 2-car garage. The subject property is very well located near Newport Beach beaches, Hoag hospital, many local parks, schools and shopping. The subject property is near the 55 FWY, 73 FWY and 1 Pacific Cost Hwy.
What we like about this Trust Deed opportunity:
- 761 business owner
- Costa Mesa SFR in good condition
- 58.87% CLTV and 57.08% Net CLTV
- 11.50% Lender Rate
- 12 months Prepaid Interest
- 6 months Guaranteed Interest
$245,000 2nd TD @ 11.50%, 58.87% CLTV, SFR, OO, $49,000 Min Inv., 24 mos., Costa Mesa, CA
