Ramona, CA – TaliMar Financial, a Ramona Hard Money Lender, is excited to announce the most recent funding of a $750,000.00 Hard Money Bridge Loan, secured on a single-family home in Ramona, CA. The loan was originated by Brock VandenBerg.
The Borrower contacted TaliMar Financial because they were seeking to do a cash-out refinance of a single-family home they were using as a long-term rental. The client had recently completed some updates of the property that included building several accessory dwelling units. The cash-out funds were going to be used to complete several additional updates to the property.
The biggest hurdle on this transaction was the client was self-employed and wouldn’t qualify for conventional financing. However, once the renovations are complete, our client will be able to refinance the property with our 30 Year Rental Loan. The 30 Year Rental Loan, also known as a DSCR loan, will provide the borrower better longer term financing.
This loan was a great example of how a real estate investor could use private money financing to quickly refinance an investment property and complete “value add” improvements.
Special thanks to Julie Halferty at Allison McCloskey Escrow and Karen Dennis 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
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!