San Diego, CA– TaliMar Financial, a San Diego Hard Money Lender, is pleased to announce our most recent funding of a $2,177,500 Hard Money Bridge Loan secured on a restaurant in San Diego, CA.
TaliMar Financial funded 65% of the purchase price and offered a 12-month term. The exit strategy is a take-out with a construction loan once the building plans are approved for multi-family development.
The Borrower was referred to TaliMar Financial by a mortgage broker that was looking for a “quick close” option for the purchase. The biggest hurdle on this transaction was the Borrower had to close quickly and the zoning had been changed to multi-family even though it was currently improved with a restaurant.
One of the biggest advantages of using a hard money lender to fund a purchase or refinance is their ability to close quickly. Unlike conventional lenders that require significant paperwork such as appraisals, tax returns, income statements, etc., real estate private money lenders are more concerned about a loan to value (LTV) and confirming the Borrower’s ability to pay.
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) 613-0111 with your loan request or visit talimarfinancial.com to learn more about our hard money lending programs.