Our client who is a real estate agent and investor was in escrow to acquire a $725,000 residential condominium in Huntington Beach, California.
The borrower put down $375,000 and therefore requested a hard money loan in the amount of $350,000, which was roughly a 50% LTV.
The subject property was a 1,482 sq. ft. 4 bedroom, 2.5 bathroom that the borrower plans to remodel and then sell for a profit.
Crescent Lenders has provided numerous bridge loans to this investor over the past 4 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 LTV.
If you need a private money 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.
Real estate investors faced with a competitive market, like California, can look to bridge loans as an advantageous financing option.
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 and cash-out
All types of investment properties considered, residential, commercial and industrial
Crescent Lenders, 2999 Overland Ave, Suite 116, Los Angeles, California, 90064