Our borrower acquired a residential condo in Dana Point, Orange County for $458,000.
The buyer put down approximately $300,000 and therefore needed to borrow $150,000 from Crescent Lenders to complete the purchase.
Once the property is leased, the borrower plans to refinance out of the private money loan and into a conventional bank loan.
The loan-to-value was 35% with four months of prepaid interest (with 4 month prepay penalty).
The substantial equity combined with this great location in Orange County resulted in an easy decision for us to fund this purchase.
Perhaps you need a bridge loan to purchase a home in Irvine or maybe you want to refinance an existing hard money loan for a property in Newport Beach, Crescent Lenders has you covered for all your Southern California private money lending needs.
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