Previous successful borrower, foreign national real estate investor and business owner was seeking a cash-out 2nd TD on this non-owner occupied SFR to invest into his pharmacy business, The Chief Corner Stone. Loan proceeds were used for inventory, marketing and operating expenses. Borrower was a previous successful Mortgage Vintage client and owns several investment properties in multiple states throughout the US. Borrower also was recently issued a social security number by the Social Security Administration.
The subject property is located in Moreno Valley, CA in Riverside County. The home sits on a 7,405 sqft lot and comprises 5 BR / 5 BA with 3,687 sqft. The home features living room, loft and a backyard. The property is conveniently located near March Air Force Base, schools, restaurants, shopping and medical facilities. Monthly rental income is $1,975.
Recent Transaction – $33,000 Business Purpose Cash out Re-fi, Moreno Valley, CA
