Business owner was seeking a very low LTV cash-out 1st TD on this owner occupied Newport Beach SFR. The proceeds from our Mortgage Vintage loan were used to invest back into the borrower’s psychology practice.
The subject is a SFR located in a prime Newport Beach location. The subject property is 2,123 SF and has 6 total rooms and 3 bedrooms / 3 baths. The home sits on a large 6,324 SF lot. The home is located near Fashion Island, Big Canyon Country Club, the Back Bay as well as schools, recreation, dining, shopping and medical facilities. Zillow estimated the property value to be $2.1M and Redfin at $2.2M, respectively.