Our borrower purchased a residential condo in Orange County's Dana Point for $458,000, putting down approximately $300,000 and financing the remaining $150,000 through Crescent Lenders.
After leasing the property, the borrower intends to refinance the private money loan with a conventional bank loan.
The loan-to-value ratio was 35%, and the borrower paid four months of prepaid interest with a 4-month prepay penalty.
Due to the attractive location and considerable equity, Crescent Lenders was confident in funding this purchase.
Whether you need a bridge loan to purchase a home in Irvine or want to refinance an existing loan for a property in Newport Beach, we have you covered all over Southern California.
Want to know more about our financing options? Find out why we are the best hard money lenders in Orange County.
