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San Diego, CA – TaliMar Financial, a San Diego Hard Money Lender, is excited to announce the most recent funding of a $3,185,000 Cash out Refinance Hard Money Bridge Loan secured on a Residential Development Project in San Diego, CA. The loan was originated by Brock VandenBerg.
The Borrower contacted TaliMar Financial because they were seeking to refinance an existing hard money loan that was maturing. They were also seeking cash out on the refinance so they could recapitalize and fund future costs associated with building plan approval for a multi-family development project. The property is located within the San Diego community of North Park.
The biggest hurdle in this transaction was that the property was currently being used as a diner though the zoning had been recently updated to mixed-use residential. The entire TaliMar Financial team worked with the client to understand what was allowed on the property based upon the recently changes in zoning laws in that area. After a thorough review, we were able to comfortable with the Borrower’s ability to execute the plan and approved the loan.
This loan was a great example of why a real estate investor would want to consider a hard money bridge loan from TaliMar Financial. Our team specializes in quickly reviewing the needs of a client and structuring a loan around their specific needs. Because we manage TaliMar Income Fund I, our flagship mortgage fund, we can offer aggressive lending options at better pricing.
Special thanks to Alicia Ramirez at Allison McCloskey Escrow and Karen Dennis at Ticor Title Company 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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