Cross-Collateralized Residential Loan

The borrower was acquiring a large lot to build their new home on. They wanted to preserve their cash for construction costs rather than tying it up in the down payment for the lot acquisition.

The borrower had additional rental properties that they were willing to pledge as collateral. Del Mar Financial & Investments, L.L.C. was able to arrange blanket financing allowing the borrower to put only 6.5% down on a $377,000 purchase.

Release provisions were granted so that the borrower would be able to refinance or sell properties individually for a partial reduction of the loan. This provided the borrower with additional flexibility in administering the loan.