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.