San Diego, CA– TaliMar Financial is pleased to announce our most recent funding of a $285,000 hard money bridge loan secured in 1st position on a single-family home in Lakeside, CA. The Lakeside hard money loan had a term of 12 months and will be repaid from a future refinance.
The loan request was originally brought to us by a mortgage broker that was seeking a cash-out refinance to pay off another sibling who had partial ownership in the property. TaliMar Financial structured a hard money loan that paid off the other sibling and brought current the outstanding property taxes.
The biggest hurdle on this transaction was the Borrower had little income. Because the Borrower was seeking to update the property in an effort to rent it, TaliMar Financial factored in future rental income in our underwriting. Once the Borrower stabilized the property with a tenant, they will obtain conventional bank financing.
About TaliMar Financial
TaliMar Financial is a San Diego hard money lender that specializes in funding residential and commercial Fix and Flip, Construction, and Bridge Loans. As a direct private money lender, we offer aggressive financing options and typically close our transactions in less than 7 business days. We work directly with real estate investors and property owners as well as real estate agents, mortgage brokers, and other real estate professionals.
Check out our hard money loan programs by clicking here.
Contact TaliMar today at (858) 613-0111 with your loan request or visit talimarfinancial.com to learn more about our hard money lending programs.