This opportunity was a business purpose cash-out 2nd TD on an owner occupied SFR in Victorville. The borrower owns a non-emergency transportation business and used the proceeds for working capital and to pay off business related debt.
The subject property is a ranch style SFR located in the Victorville in San Bernardino County. The single-story home sits on an 18,500 SF lot (just under .50 acre). Subject property has 8 total rooms with 4 BR/2 BA. The subject features a dining room, family room, fenced-in lot, mature trees and a large concrete driveway. The subject is near the 15 freeway, shopping, dining, schools, recreation and medical facilities.
CLTV is 70.00% based on the BPO value of $265K.