San Diego, CA – TaliMar Financial, a San Diego Hard Money Lender, is excited to announce the most recent funding of a $1,350,000 30 Year Rental Loan secured on a 4 Plex in San Diego, CA. The loan was originated by Brock VandenBerg.
The client approached TaliMar Financial seeking a loan term solution to refinance an existing high-rate hard money fix and flip loan which they used to purchase and renovate the property. Instead of selling the property once the renovations were complete, they decided to hold the property for monthly cash flow and long-term equity appreciation. Additionally, there were some tax benefits to holding the property.
The biggest hurdle on this transaction was that the property had been purchased six months prior. Many lenders require a seasoning period of at least 12 months before they will allow a cash out refinance on a 30 Year Rental Loan. Not in the scenario, the Borrower was able to quickly complete the renovations and lease the property in less than six months.
This 30 Year Rental Loan, also known as a DSCR loan, is a great example of a borrower using our online Loan Application Process. They submitted their loan request through the website as well as signed up for our Preferred Borrower Account Program.
This program is available to both real estate investors and mortgage brokers.
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.
Contact TaliMar today at (858) 242-4900 with your loan request or visit talimarfinancial.com to learn more about our hard money lending programs.
Up to 80% of Value
Purchase / Refinance
As Low as 3.875%
Interest Payments Available
Cash Out OK
Business Purpose Only
Up to 70% of Completion Value
12 – 24 months
Interest Only Payments
Single Family and Multi-Family
Business Purpose Only
The Preferred Borrower Account Program was designed for the real estate investor. The PBA Program offers real estate investors a secure source of capital for their real estate deals. By getting approved, investors will have access to a TaliMar Financial Letter of Credit, property specific Proof of Funds Letters, 5 Day Expedited closings, and our Wholesale Deal Marketplace.
The process of getting approved is simple. Apply today!