Fix and Flip Loans
Hi there, Brock VandenBerg with TaliMar Financial, your California hard money lender. I want to give special thanks to all the great comments and feedback that we received on last week’s video about the current state of the hard money lending industry as well as the non-QM lending industry. Also, want to put a special thanks to all those people in companies that are putting some great content out there about the hard money lending space, best practices and what to anticipate in the future. Companies include CMA, California Mortgage Association, the AAPL, the American Association of Private Lenders. You’ve got Rocky over at Private Lender Link as well as Geraci Law Firm, all doing a great job of putting some great content out.
Here at TaliMar Financial, we are staying very busy funding hard money loans. In fact, we’ve got more capital than ever to put into the hard money lending space. One of the most popular loans that we’re funding is the Fix and Flip Loan. We’ll lend up to 70% of completion value. Funds can be used towards the purchase and renovation of the property. We do all evaluations in house. Loans are funded usually within about three to five business days. Draws are done in house as well. And we can provide proof of funds letters for you for you to submit with your offers. Another popular loan is our Bridge Loan, so both purchase loans and refinances. These are on residential and commercial properties. We’ll lend up to 70% of current value. Typically, loans are funding within about five to seven business days. In a lot of cases we do valuations in house. Give us a call on our Bridge Lending Program.
We are seeing construction loans, though most construction projects that we’re seeing are being put on the shelf until we see where the housing market is going to be here in the next couple of months. A loan program that we are rolling out is called a Maturity Extension Loan Program. We know that a lot of borrowers are dealing with loans that are maturing, especially on the Fix and Flip and Bridge Loan side. So a lot of existing hard money loans offer maybe 30 to 90 day extension options, we want to sit down with that borrower and offer up to a 12 month extension at similar pricing. Again, this is for borrowers that are here in the State of California that have projects that are either near completion or currently listed on the market that have loans maturing.
If you’re interested in learning more about TaliMar Financial and the hard money loans that we offer, feel free to contact me directly. All my information is here on the screen or visit our website. We appreciate you listening to this video and I look forward to hearing from you.