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San Diego, CA – TaliMar Financial, a San Diego Hard Money Lender, is excited to announce the most recent funding of a $520,000.00 Hard Money Bridge Loan, secured on a multi-family property in San Diego, CA. The loan was originated by Brock VandenBerg.
The Borrower contacted TaliMar Financial because they were seeking a short term bridge to refinance an existing hard money lender who was not willing to extend the loan. The Borrower had completed the construction but was waiting on the utilities to be connected to the property. Once the utilities are connected and the borrower leases the property, they intend to refinance the property with conventional bank financing.
The biggest hurdle on this transaction was that the client didn’t have the utilities connected to the property. Based upon the borrower’s credit, experience, and progress on the construction, we approved and funded the loan.
This loan was brokered to us from a local mortgage broker who was having trouble getting an approval from a conventional lender. The broker had never used hard money and was very concerned that we would not be able to fund the loan prior to the maturity. We assured him that the loan would be funded and surprised him when we funded a couple of days early. That is one of the advantages of working with a Direct Lender.
Special thanks to Stefany Twamley at Preferred Choice Escrow and Dee Dee Burland at Lawyers Title – San Diego 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
Minimum Documentation
Business Purpose Only
Up to 70% of Completion Value
12 – 24 months
Low Rates
Interest Only Payments
Single Family and Multi-Family
California Only
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!
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