Residential Purchase & Renovation

The borrower located a property with great investment potential, once renovated. The borrower qualified for a conventional loan, but the property was in mid-renovation by prior owner and thus non-conforming by traditional lending standards.

Del Mar Financial & Investments, L.L.C. loaned the borrower $755,000, which covered the full renovation cost and a portion of the purchase price, enabling the borrower to refinance to a conventional loan when the renovations were completed.