Carlsbad, CA– TaliMar Financial, a Carlsbad Hard Money Lender is pleased to announce our most recent funding of a $1.34MM Fix and Hold loan secured on Single Family Home in Carlsbad, CA.
Our client intends to complete a full renovation of the subject property which includes permitting a downstairs basement and installing a kitchen and bathroom. When the renovations are completed, our client will lease the property as a vacation rental.
The loan included funds for the purchase and 100% of the renovation costs. The construction funds will be disbursed to the borrower over the course of the renovation. We did not require an appraisal.
The biggest hurdle on this transaction was valuing the property based upon future use. We considered the renovations the borrower intends to make and the future income. Additionally, we considered the borrower’s ability to refinance our hard money fix and hold loan into a 30 Year Rental Loan. Because we offer a low rate interest only 30 Year Rental Loan, we were able to prequalify them for the take out loan.
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!