The borrower/buyer acquired a single-family home in Studio City, California for $3.4 million.
The buyer put down just over $1,000,000 (including closing costs).
Our client is a real estate broker with over 200 agents and earns approximately seven figures annually.
The borrower has excellent credit and also owns four other single-family residences (with strong equity in each).
This purchase financing also included a 2nd position private money loan for $360,000 which will be carried by the seller.
Therefore our 1st position hard money loan will be better positioned since the seller of the property who is in 2nd position will give our loan some protection.
Having trouble obtaining a traditional bank loan? Not to worry!
Regardless of if you need a fix-and-flip loan for a distressed property in Long Beach, an inheritance loan for a home in Pomona or some extra cash to complete a 1031 exchange in Glendale, Crescent Lenders is ready to fund your project.
Come see why we are considered by many to be the most trusted and reliable California hard money lender.
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