Successful Mortgage Vintage borrower, real estate investor and developer was seeking a business purpose cash-out loan to be used to complete construction on a duplex and to invest into a new project.
Construction plans for the subject property consisted of completing 2 units with one unit downstairs and one unit upstairs. The downstairs unit will consist of 816 sf and have 2 bdm/1 ba. The upstairs unit will consist of 1,494 sf and have 5 bdrm/3 ba. Each unit will have its own address and own front door. The subject is just south of the 22 freeway. In addition, it centrally located near schools, shopping, restaurants, parks and medical facilities.
Recent Transaction- $525,000 1st TD Business Purpose, Santa Ana, CA
