



© copyright 2023, All California Lending. All right reserved
Chris Goulart, Broker Associate, DRE Lic. # 01458390 NMLS Lic. # 298819 Bay Mountain Mortgage broker Lic. #01227690
This transaction was recently funded for a vacation rental located in Santa Cruz. The property was great and located right on the beach. The investor who visited the property loved it and we were able to obtain funding with no trouble for our client at great terms.
In this situation we were able to secure 65% of the purchase price in funding while keeping the interest rate below 10%. This was due to a combination of the quality of the property, location of the property and integrity of the borrower. We are often times able to secure excellent hard money terms for properties located in desirable areas. Some of the more desirable areas we deal with include the coastal areas, the San Francisco Bay Area, parts of Los Angeles and San Diego and others. Typically speaking, if property values have held up in an area through the recent downturn we can usually be more aggressive on rate and/or loan to value.
In some cases we can be much more aggressive on our loan to value ratios. For example, borrowers with very short term needs, say 9 months or less, we can often finance 75-80% of the purchase price of a property. In addition, on this particluar program we can structure a loan that will defer many of the fees until the time the loan is paid off.
For more information on these and other loan programs we offer please visit our California hard money lending page, or call us directly at 877 462 3422.