Located in the town of Seaside in Northern California, the subject property is a two-story condominium with 2 bedrooms, 1.5 bathrooms, and over 1,000 sq. ft. of space.
Owned free and clear by the borrower, it has been appraised at $350,000, with the borrower seeking a $220,000 cash-out loan to complete construction on another property in Sacramento, California.
With a loan-to-value ratio of less than 65%, this hard money loan is an attractive option for Crescent Lenders to fund.
Furthermore, our prior lending relationship with the borrower helps to ensure a smooth transaction.
Finally, the borrower intends to either refinance the Seaside condo into a traditional bank loan or sell one of the two properties mentioned.
Crescent Lenders is a top rated private money lending company providing loans around The Monterey area.
We have been providing loans to commercial, residential and industrial California real estate investors for over a decade.
Whether you are refinancing a single-family property in Carmel-by-the-Sea or executing a 1031 Exchange in Del Monte Forest, we can help fund your real estate project.
Come see why we are the leading California private money lender.
Suite #116, 999 Overland Ave
Los Angeles, California