Hard Money Loan Bakersfield CA | $162K Closed Deal
By Hanover MC On August 7 2023
Hanover MC arranged a $162K hard money loan on a Bakersfield, CA 5-unit at 65% LTV. Asset-based, private capital. Call (714) 838-1474.
H
Hanover MC
Private Money & Trust Deed Lending
Closed Deal · Bakersfield, CA 93308
Hard Money Acquisition Loan Closed on 5-Unit in Bakersfield, CA
$162,000 first trust deed, 65% LTV, arranged for a seasoned investor acquiring a 5-unit residential income property in Kern County.
Hanover MC arranged a $162,000 hard money acquisition loan on a 5-unit residential income property in Bakersfield, CA 93308, closing at 65% loan-to-value in first trust deed position with a 60-month term. The loan was asset-based, business purpose only, with capital provided by private trust deed investors — not Hanover MC itself.
$162K
Loan Amount
65%
LTV As-Is
1st TD
Position
60 mo
Term
The Deal
Hanover MC arranged purchase-money funds for a seasoned real estate investor acquiring a 5-unit residential income property in Bakersfield, CA 93308. Most units carry long-term tenants, and on-site laundry and storage add extra rental income beyond base rent — the kind of cash-flowing detail that supports a fast asset-based underwrite.
The loan closed as a first trust deed in Kern County with a 60-month term on principal and interest payments, at 65% loan-to-value against the as-is value of the property.
Loan Terms
- Property type5-Unit Residential Income
- Loan purposeAcquisition
- Principal amount$162,000
- Loan-to-value (as-is)65%
- Lien position1st Trust Deed
- Term60 Months
- Payment structurePrincipal & Interest
- CountyKern County, CA
About Bakersfield, CA
Bakersfield was founded in the mid-1800s and incorporated in 1870, named for Colonel Thomas Baker, an early settler in the area. Today Bakersfield is the seat of Kern County and one of California's largest inland investment markets, with a steady base of multi-family rental demand that supports income properties like this 5-unit acquisition.
Why Investors Use Hanover MC in Bakersfield
Single Focus
Private money lending and trust deed investing only — not split across property management, HOA administration, or brokerage sales.
Asset-Based Underwriting
Decisions are made on the property's equity and income, not tax returns or bank-style debt-to-income ratios .(lte doc)
Direct Private Capital
Funds come from private trust deed investors, not a bank committee, which keeps the path from offer to close shorter.
Multi-Unit Experience
Comfortable underwriting 5+ unit residential income property with mixed income sources like on-site laundry and storage.
Frequently Asked Questions
What is a hard money acquisition loan?
Short-term or longer- term, business-purpose financing secured by the real estate itself rather than the borrower's income or credit, used to purchase investment property quickly.
Does Hanover MC arrange loans on multi-unit properties in Bakersfield?
Yes — this deal arranged financing for a 5-unit residential income property in Bakersfield, and Hanover MC arranges loans on similar multi-family assets across Kern County.
What loan-to-value did this Bakersfield deal close at?
65% LTV as-is, in first trust deed position, with a 60-month term on principal and interest payments.
Closing a Deal in Bakersfield or Kern County?
Call for a same-day read on your scenario.
Hanover Mortgage Company arranges loans on behalf of private trust deed investors. All loans are business purpose only. No consumer loans. California real estate only. This is not an offer to lend. Loan programs, amounts, rates, and terms are subject to change without notice. Borrowers and properties must qualify. Conditions and restrictions may apply. Not all programs available in all areas. Not a commitment to lend. All transactions subject to underwriting and investor approval. 1st, 2nd, and 3rd trust deed positions available.