Previous Mortgage Vintage borrower and on-time payer was seeking a cash-out 2nd TD on this mixed-used property in Orange, CA.  Funds were used as working capital for borrower’s construction company, which is operated out of the SFR of the subject.

The subject is a mixed use property with SFR and commercial buildings.  The subject property is 800 SF with 6 total rooms and 2 bedrooms / 2 baths.  Subject sits on a large 6,411 SF lot.  The property located near the 22 FWY and the I-5.  Schools, shopping, restaurants, recreation and medical facilities are all located nearby.  Newland Construction pays $8,000/month in rent.

Recent Transaction – $132,500 Business Purpose, Orange, CA 92868

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