Single Family Residence
TaliMar Financial is pleased to announce our the funding of a $350,000 Hard Money Bridge Loan secured on a single-family home in Escondido, CA. The Borrower intends to complete a cosmetic update of the property and holding it as a long term rental. This was officially the quickest close in TaliMar Financial history. The agent representing our Borrower reached out to us requesting immediate funding of a Hard Money Purchase Loan. The original lender canceled the loan in the 11th hour and the seller was not going to extend the contract. The Borrower submitted their loan application on a Friday morning and we funded on the following Monday. Our loan funded 70% of the purchase price with a term of 12 months and no prepayment penalty. We were able to use the existing appraisal to confirm our internal valuation.