Our client, a real estate agent and investor, was in escrow to purchase a residential condominium in Huntington Beach, California, for $725,000.
The borrower put down $375,000 and requested a hard money loan of $350,000, which was roughly a 50% loan-to-value ratio. The subject property was a 1,482 sq. ft. 4-bedroom, 2.5-bathroom unit that the borrower plans to remodel and sell for a profit.
Crescent Lenders has provided several bridge loans to this investor over the past four years, all of which have been successfully paid off in full.
This Orange County hard money loan was funded based on the subject property's great location, the borrower's excellent payment history, and the strong loan-to-value ratio.
If you need a fix-and-flip loan to buy a distressed home in Anaheim or have found an ideal vacation rental property in Newport Beach, Crescent Lenders can supply financing tailored to your needs.
See why we are the leading private money lenders in Orange County.
