Cash-Out Second Mortgages in Torrance
Keep Your First Loan in Place.
Tap the equity in your Torrance primary residence or investment property for a business or investment purpose, without refinancing your existing first mortgage, subject to our underwriting.
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Cash-Out Second Mortgages in Torrance
What to Know About Torrance
Torrance was laid out as a planned industrial city in the early 1910s, and Old Torrance still reflects that original plan. Most of the city, though, filled in during the post-war boom of the 1950s and 1960s, with single-story tract homes in North Torrance, Southwood and Walteria and hillside homes in the Hollywood Riviera.
Torrance has a deep base of long-term owners in mid-century tract homes, many with significant equity and a first mortgage they want to keep. Whether it’s a primary residence in Southwood used for a business purpose or a rental in North Torrance, a private second accesses that equity without a refinance.
How It Works
Cash-Out 2nd Mortgage Terms
Rates, points and fees depend on the property and the deal and are disclosed in writing before you commit.
Where We Lend
Torrance Neighborhoods
We lend throughout Torrance and the rest of Los Angeles County, including these areas.
Straight Answers
Cash-Out Second Mortgages in Torrance: Questions
I’ve owned my Southwood home for 25 years. Can I use that equity without refinancing?
Yes. A second mortgage leaves your first loan in place and accesses the equity behind it, for a business purpose on a primary residence or from investment property.
Do you lend in Torrance?
Yes. We’re a California-licensed direct lender headquartered in Glendale, and we underwrite Los Angeles County deals directly, including Torrance, rather than routing them through an out-of-state call center.
Can I borrow against my primary residence?
Yes, when the loan is for a business or investment purpose. That’s what sets us apart from many private lenders who won’t lend on an owner-occupied home. A signed business-purpose statement is required at closing, and the proceeds can’t be used for personal or household expenses.
More in Torrance
Cash-Out Second Mortgages Elsewhere in Los Angeles County
Have Equity in Your Torrance Property?
Tell us about it and we’ll give you a straight answer.
Get Started → or call (818) 937-9987Serving Torrance and Los Angeles County, California
Michael Daniel Investments, Inc.
417 Arden Ave, Suite 121A, Glendale, CA 91203 · (818) 937-9987
California Department of Real Estate DRE# 02037255 and NMLS# 233991.