La Mesa, CA
Single Family Residence
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. 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 private mortgage was funded in March 2021.