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National City, CA – TaliMar Financial, a National City Hard Money Lender, is excited to announce the most recent funding of a $350,000.00 Hard Money Bridge Loan, secured on a commercial property in National City, CA. The loan was originated by Brock VandenBerg.
The Borrower contacted TaliMar Financial because they were seeking a short-term private money purchase bridge loan to acquire two adjacent single-family homes. The zoning for both properties had recently been modified to allow for mixed-use residential use. As a result, the value of the two parcels had increased substantially but it also made it difficult to finance through a conventional lender because of the uniqueness of the opportunity.
The biggest hurdle on this transaction was the valuation. We couldn’t consider the use as pure commercial because of the recent zoning changes but couldn’t consider the property as residential because the two structures were not conforming to the use. Instead, we considered just the value of the land without the structures to obtain a final value.
This loan was a great example of why a real estate investor should consider using a hard money lender like TaliMar Financial to fund their investment property. Unlike banks and as a Direct Lender, we can offer much more flexibility in our lending programs to provide solutions to our clients.
Special thanks to Julie Halferty at Allison McCloskey Escrow and Ryan Lipsey at Ticor Title for assisting us with the close.
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
Minimum Documentation
Business Purpose Only
Up to 70% of Completion Value
12 – 24 months
Low Rates
Interest Only Payments
Single Family and Multi-Family
California Only
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!
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