San Diego, CA – TaliMar Financial, a San Diego Hard Money Lender, is excited to announce the most recent funding of a $702,000 Hard Money Bridge Loan, secured on a single-family home 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 needed to quickly structure a loan that included funds to refinance the existing loan, and pull cash out to complete the approval process to build 20 units on the subject property.
The biggest hurdle on this transaction this transaction was that the loan included a cash out refinance. Many private money lenders prefer not to fund refinances that include cash out because it reduces the amount of equity the borrower has invested in the property. In this case, we got comfortable with the loan because the borrower had demonstrated a strong payment history.
This loan was a great example of how we were able to provide a flexible lending solution for the borrower. Because we are a direct lender through TaliMar Income Fund I, a mortgage REIT, we quickly underwrote the loan request and closed in less than 10 business days.
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
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!