Equity Cash Out Bridge Loan for SFR in Oceanside, California

Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date

10/13/2020

Property Type

Single Family Residence

Property City

Oceanside

Property State

Loan Term (months)

Lien Type

1st Mortgage

Payment Type

Interest Only

Deal Highlights

Loan term was 36 months. No appraisal was required.

Longer-term option at a lower rate and with cash out.

Deal Summary

TaliMar Financial, an Oceanside Hard Money Lender, is pleased to announce our most recent funding of a 1st position $507,325 hard money cash-out refinance bridge loan secured on a single-family home in Oceanside, CA. The loan was underwritten to 70% of the current value and had a term of 36 months. No appraisal was required. The Borrower approached TaliMar Financial with their loan request because their existing hard money loan was maturing. They were looking for a longer-term option at a lower rate and with cash out. Based on the property income and their credit, we were able to accomplish all three for the Borrower. This SFR equity cash-out loan was funded in October 2020.