Long time successful business owners and 705 and 728 credit score borrowers were looking to make a business purpose purchase with cross collateral 2nd TD of existing home.
Our subject property is a beautiful 4 BR / 3 BA, 4,263 sf home in Monarch Bay community of Dana Point. This property is on a land lease and sits on a 19,110 s.f. lot with incredible unobstructed ocean views to the west, north and south. The Cross Collateral (his current home that is for sale) is located within the same neighborhood and is a contemporary single-story 3,434 s.f. SFR with 4 bed/4 bath sitting on a 10,100 s.f. lot, which Borrower plans to sell within 11 months. Both properties are within close proximity of award winning schools, recreation, shopping and restaurants with easy access to the beach and Pacific Coast HWY. Borrower is self-employed.