Hard Money Loan on Lot Development Project in Spring Valley, California

TaliMar Financial is pleased to announce the funding of a $560,000 Hard Money Bridge Loan secured by a single-family home in Spring Valley, CA.

Our client was purchasing the property as a 1031 exchange and was not able to secure conventional bank financing prior to the expiration of the purchase contract. A mortgage broker referred the client to TaliMar Financial in order to quickly close the purchase.

TaliMar Financial worked closely to quickly underwrite the transaction. From the time the loan was referred to us to when we closed was less than 7 business days. Additionally, we had no appraisal requirement.

One of the most common hard money loan requests is a 1031 bridge loan. Our bridge loan program will fund up to 75% of the current value and does not have a debt service coverage ratio (DSCR) minimum. As a hard money lender, TaliMar Financial can easily structure a loan around the specific needs of the client. This hard money loan was funded in April 2021.