Our client, who is a real estate agent and investor, was in escrow to purchase a residential condominium in Huntington Beach, California for $725,000.
The borrower put down $375,000 and requested a hard money loan of $350,000, which was roughly a 50% loan-to-value ratio. The subject property was a 1,482 sq. ft. 4-bedroom, 2.5-bathroom unit that the borrower plans to remodel and sell for a profit.
Crescent Lenders has provided several bridge loans to this investor over the past four years, all of which were successfully paid off in full.
This Orange County hard money loan was funded based on the great location of the subject property, the borrower's excellent payment history, and the strong loan-to-value ratio.
Crescent Lenders is a top rated private money lending company providing loans around The Orange County area.
We have been providing loans to commercial, residential and industrial California real estate investors for over a decade.
If you need a fix and flip loan to buy a distressed home in Anaheim or found an ideal vacation rental property in Newport Beach, Crescent Lenders can supply financing that is tailored for your needs.
Come see why we are the leading private money lenders in Orange County.
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Los Angeles, California