Single Family Residence
TaliMar Financial is pleased to announce the funding of a $799,500 Hard Money Bridge Loan in Escondido, CA. The funds were used to purchase the property The Borrower was referred to us by a San Diego mortgage broker who suggested using hard money for the purchase. The Borrower had secured the property under contract with an Option to Purchase. They were planning to use conventional financing on the purchase, but because they could not claim the property as their primary residence, they were having difficulty getting approved for a purchase loan. TaliMar funded 70% of the purchase price for a term of 12 months and did not require an appraisal. The Borrower intends to list the property for sale once the renovations are complete.