The borrower acquired a single-family residence in Santa Maria for $380,000 in February 2020.
The property was purchased all-cash for the intent of a buy and hold investment.
The borrower was seeking a hard money loan to cash-out $220,000 to replenish cash reserves.
The borrower has excellent credit and owns four other properties with very little debt (lots of equity in these other properties).
There is a strong equity position here with a loan-to-value of about 55%.
Based on a good equity position and strong borrower credit, Crescent Lenders decided to fund this hard money loan.
Having funded hundreds of deals over the past decade, Crescent Lenders has the knowledge and expertise of the local real estate market, making us the perfect California private money lender for your real estate project.
Whether you are an investor looking to capitalize on a hot deal in Ventura, an individual who would like some extra cash to fix up their apartment in Montecito or a foreign national unable to get a traditional bank loan, we can help you get funding for your complicated projects.
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