Vista, CA

This loan is a second deed of trust on a single-family residential income property in Vista, CA. Located in northern San Diego County, approximately seven miles inland from the Pacific Ocean, Vista is known for its established residential neighborhoods, growing commercial districts, and convenient access to nearby coastal communities, including Oceanside, Carlsbad, and San Marcos. The city offers a mix of suburban and semi-rural properties, with access to State Route 78, major employment centers, shopping, dining, and recreational amenities. The property is reported to be in average-to-good overall condition, with no immediate repairs or significant functional or economic obsolescence noted by the appraiser. The Borrower acquired the residence in 2005 and maintained it as a primary residence until converting it to a rental property in 2019. The purpose of the loan is to provide $215,000 in cash-out proceeds toward the acquisition of an additional investment property. The property is currently encumbered by a first mortgage with an outstanding principal balance of approximately $325,296, resulting in a combined loan-to-value ratio of 60%. The Borrower owns additional investment properties in Vista and intends to refinance the total debt into conventional financing before maturity. The loan will have a maturity of 36 months.