Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
03/16/2019
Property Type
Residential Land
Property City
Los Angeles
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Deal Summary
TaliMar Financial, a hard money lender, funded a $130,000 1st lien position equity cash-out refinance loan secured by an R1 residential lot in Los Angeles, California, close to Universal Studios. The Borrower purchased the lot over 12 months prior and had been working with the City to obtain building plan approval for a single-family home. The Borrower requested the cash-out refinance after identifying another investment opportunity. The funds will be used to acquire the new investment opportunity. We quickly underwrote the loan request, offered aggressive financing, and closed in less than 10 business days. This equity cash-out hard money loan was funded in March 2019.