Maturity Bailout Private Money Loan for Rental Home in La Mesa, California

Funded by TaliMar Financial

$538,000

Deal Details

Private Loan Type

Refinance

Approx. Funding Date

03/23/2021

Property Type
Single Family Residence
Property City

La Mesa

Property State

CA

Loan Term (months)

36

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Value

70%

Term

3 years

Deal Highlights

3-year loan term with NO Prepayment Penalty.
We did not require an appraisal and closed in 5 business days.

Deal Summary

TaliMar Financial, a direct private lender in San Diego, funded a $538,000 private money refinance loan secured by a non-owner-occupied residential investment property in La Mesa, CA. The Borrower had purchased the property a year prior with the plan to hold it for long-term rental income. They had a private mortgage from another lender which was maturing, and that lender requested a large extension fee for a very short term, but the Borrower needed a longer-term solution.

TaliMar Financial offered a solution by paying off the other private lender and providing a 3-year loan term with No Prepayment Penalty. The loan amount was at 70% loan-to-value. Additionally, we did not require an appraisal and closed in 5 business days! This SFR private money loan was funded in March 2021.

Funded By

TaliMar Financial

California's Trusted Hard Money Lender