Located in Seaside in Northern California, the subject property is a two-story condominium with 2 bedrooms, 1.5 bathrooms, and over 1,000 sq. ft. of space.
The borrower fully owns the property, which is appraised at $350,000. They are seeking a $220,000 cash-out loan to finish construction on another property in Sacramento, California.
With a loan-to-value ratio of less than 65%, this hard money loan is an attractive option for Crescent Lenders to fund.
Furthermore, our prior lending relationship with the borrower helps to ensure a smooth transaction.
Finally, the borrower intends to refinance the Seaside condo into a traditional bank loan or sell one of the mentioned properties.
Whether you are refinancing a single-family property in Carmel-by-the-Sea or executing a 1031 Exchange in Del Monte Forest, we can help fund your real estate project.
See why we are the leading California private money lender.
