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Brock Vandenberg with TaliMar Financial, your hard money lender. April was another busy month funding residential and commercial fix and flip, bridge, and new construction loans. Also, we were extremely busy with our recently launched 30 year rental loan program with rates in the high 3% range. We have seen a ton of activity with this program. In fact, we funded 3 loans last month under 4%. One was a single-family rehab that a client decided to hold as a long-term rental and the other two were duplexes that the borrower had purchased with a hard money bridge loan.
TaliMar Financial is a DIRECT lender and we have plenty of capital to lend. Our fix and flip and fix and hold loan programs are extremely aggressive, funding up to 70% of completion value. The loan includes proceeds for 100% of the renovation costs. We typically can fund in less than 5 business days, once all the diligence material are received. Also, ask us about our Preferred Lender Account program. The program is for real estate investors that are looking to get pre-qualified for their next fix and flip project. By getting pre-approved, you will have access to a letter of credit and proof of funds letter for your next offer and 3 to 5 day expedited closings. If you are new to the flipping game, don’t worry, we work with new investors.
Our Bridge loan program is equally as aggressive. This program is great for borrowers needing to close quickly on a real estate investment purchase or refinance. It’s a very popular program for investors that are looking to submit a strong offer with a short closing time frame. In fact, we are helping a lot of investors quickly close on their purchase and rolling them into our 30-year rental loan program. Remember, building wealth in real estate isn’t about selling real estate. It’s about building a portfolio of cash flowing properties.
The other very popular loan program is our 30 year rental loan program. Though we are not closing loans in 5 days with this program, we do offer rates in the high 3% range for borrowers that qualify. This program is great for investors that own a 1 to 4 unit rental property with a high interest rate loan that they want to refinance or investors that are looking to refinance their existing fix and flip or new construction project into a long term rental loan. The underwriting is strictly on the property and does not require submittal of tax returns, w-2’s, or other verification of income.
I always like to highlight a success story. A borrower came to us with a hard money loan request on a fix and flip here in San Diego. They were seeking a proof of funds letter for their offer. We quickly approved them for our preferred borrower account program. Once approved they submitted their offer with our proof of funds letter with a 5 day close. Their offer was accepted and within 5 days, we funded their flip loan, which included 100% of the renovation costs.
Contact us today with your hard money loan request. We work with real estate investors, agents and mortgage brokers to find solutions for their lending needs. As a direct lender, we can customize our lending program around the needs of the client. We require minimal documentation, can fund in 5 to 7 business days, and rarely need an appraisal. Again, give us a call today and let us help you fund your next real estate investment loan. I appreciate you listening and look forward to hearing from you.
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