Hard Money Fix and Flip Loan for SFR in El Cajon, California

Funded by TaliMar Financial

$454,000

Deal Details

Private Loan Type

Residential Rehab

Approx. Funding Date

10/22/2020

Property Type
Single Family Residence
Property City

El Cajon

Property State

CA

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Purchase Price

80%

Borrower's Contribution to Purchase

20%

Source of Borrower's Contribution

Cash

Renovation Budget Funded

100%

Loan-to-After-Repair Value

70%

Borrower Credit Rating

Excellent

Deal Highlights

Borrower qualified for our Preferred Borrower Loan Program as a first-time investor.
Preferred Borrower Loan Program: Letter of Credit, Proof of Funds letters, & expedited closings.
70% completion value Fix and Flip Hard Money Loan.
We funded 80% of the purchase price and 100% of the renovation costs.

Deal Summary

In October 2020, TaliMar Financial funded a $424,000 hard money fix and flip loan secured on a single-family home in El Cajon, CA. The Borrower will complete a full interior and exterior renovation of the property before listing it for sale.

The Borrower first approached TaliMar Financial seeking information on our Hard Money Fix and Flip Loans. They had never completed a residential fix and flip project but we qualified them for our Preferred Borrower Loan Program They had never completed a residential fix and flip project but we qualified them for our Preferred Borrower Loan Program as a first-time investor This gave them access to a Letter of Credit, property-specific Proof of Funds letters, and our expedited 3 to 5-day closings.

Soon after qualifying them for our Preferred Borrower Loan Program and opening them a TaliMar Borrower Account, our Borrower notified us that they identified a Fix and Flip investment opportunity and would need to close quickly. We approved them for a 70% completion value Fix and Flip Hard Money Loan that funded 80% of the purchase price and 100% of the renovation costs.

Funded By

TaliMar Financial

California's Trusted Hard Money Lender