The subject property is a 2 bed/1.5 bath two story condominium with over 1,000 square feet of space and is located in the Northern California town of Seaside.
Owned free and clear by the borrower, the property was appraised for $350,000, with the borrower needing a $220,000 cash-out loan in order to complete the construction of another property in Sacramento, California.
The loan-to-value ratio comes in at less than 65%, making this an attractive hard money loan for us to fund.
Additionally, Crescent Lenders has a prior lending relationship with this borrower helping to ensure the transaction goes smoothly,
Lastly, the borrower plans to either refinance the Seaside condo into a traditional bank loan or will sell one of the two properties mentioned.
In the event you need a private money loan for a NNN commercial property in San Jose or possibly want to refinance a mobile home park in San Francisco, whatever your situation, we can get you a financing in as little as 5 to 7 days.
We Can Deliver Rapid Financing
Between $200k and $5 million dollars
Nationwide private lender (not a broker, avoid the extra fees)
Funding loans such as purchase, refinance, rehab, probate, 1031 exchanges, cash-out
All types of investment properties considered, residential, commercial and industrial
Crescent Lenders, 2999 Overland Ave, Suite 116, Los Angeles, California, 90064