San Diego, CA– TaliMar Financial is excited to announce our most recent funding of a $415,000 hard money bridge loan secured on a single-family home with an attached Accessory Dwelling Unit (ADU).
The Borrower approached TaliMar Financial seeking a hard money loan to refinance an existing bridge loan that was maturing. The property included a single-family home that had an ADU and partially completed ADU in the rear. Both the primary and attached ADU were leased with sufficient income to cover the debt service. Once the 3rd ADU is complete, the Borrower will refinance the loan with conventional bank financing.
The biggest hurdle on this transaction was valuing the property with a partially renovation ADU. We valued the property with just the two income producing units which were sufficient for our underwriting. The Borrower has
appreciative that we could get the loan done for him.
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.