Borrower and business owner was seeking a business purpose cash-out 1st TD on this owner occupied SFR in Moreno Valley in Riverside County. The MVI loan paid-off an existing private money 1st TD as well as provide cash-out for working capital for the borrower’s business as well as funds for home improvements.
The subject is a beautiful 2 story traditional style home with 14 total rooms and 4 BR/4.5 BA. The home is 3,764 sqft and sits on a .86-acre lot featuring an in-ground swimming pool and jacuzzi. Schools, parks, shopping, restaurants and medical facilities are all nearby. Subject is close to highway 60 and is situated halfway between the 215 & 10 freeways.
The loan has a 54.67% LTV based on the $750K BPO value.
Recent Transaction $410,000 Business Purpose, Moreno Valley, CA 92555
