The Borrower was seeking short-term financing for the purchase of a $2.2 million residential luxury townhome in Pasadena, California.
The subject property was just over 3,000 sq. feet and was part of a new residential development.
With a strong monthly income and an excellent FICO score of 770, the buyer was financially capable of making the required monthly interest payments.
The borrower was putting down $1.25 million and needed to borrow $950,000 to complete the purchase.
With a loan-to-value ratio of under 50%, the result is a very stable and secure private money loan.
Lastly, the borrower planned to obtain a traditional bank loan as his exit strategy from the bridge loan.
Possibly you need to refinance an existing private money loan for an investment property in Long Beach or maybe you want to purchase an apartment complex in Brentwood and do not qualify for a traditional bank loan — Crescent Lenders is ready and able to assist you with all your short-term financing needs.
Come see why we are considered the premier private money lenders in Los Angeles.
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