$205K Owner-Occupied 2nd TD | Palos Verdes Estates
By Hanover MC On March 4 2024
Closed: $205,000 2nd TD, owner-occupied SFR, business purpose, Palos Verdes CA. 29% CLTV.
Closed | Hard Money 2nd TD | Owner-Occupied SFR | Palos Verdes Estates, CA
By Hanover MC | March 4, 2024 | 2 min read | Los Angeles County, California
Hanover Mortgage Company arranged a $205,000 hard money 2nd trust deed on an owner-occupied single-family residence in Palos Verdes Estates, CA 90274. The loan was for a business purpose .Combined loan-to-value at origination:29% CLTV.
Loan Summary
| Principal Amount | $205,000 |
| Position | 2nd Trust Deed |
| Property Type | SFR (Owner-Occupied) |
| Location | Palos Verdes Estates, CA 90274 |
| County | Los Angeles County |
| CLTV (As-Is) | 29% |
| Loan Purpose | Working Capital / Business Recapitalization |
| Loan Type | Business Purpose |
| Term | 36 Months |
About This Loan
The borrowers owned a high-equity home in Palos Verdes Estates and needed to access capital quickly for their business. At 29% CLTV, the combined loan balance against the property was well within the private capital guidelines Hanover MC works with. No loan committee. Private capital funded the position directly.
Figures describe this specific, previously closed transaction only — not a quote or commitment to lend. Every borrower and property is underwritten on its own terms.
Palos Verdes Estates sits on the Palos Verdes Peninsula in Los Angeles County — one of the most equity-rich residential markets in Southern California. Properties in this area routinely appraise in the upper range, making low-CLTV hard money positions highly suitable for private trust deed investors.
This deal is an example of how business owners with real estate equity can access working capital without traditional bank financing. Hanover Mortgage Company arranges these loans throughout Los Angeles County and California-wide.
Related closed loans in Southern California: Hard Money Loan — Los Angeles, CA | Hard Money Loan — Inglewood, CA | Hard Money Loan — San Diego, CA
Frequently Asked Questions
Can I get a hard money loan on an owner-occupied property in California?
Yes — but the loan must be for a business purpose such as working capital, business recapitalization, or another commercial use. Consumer-purpose loans on owner-occupied homes are governed by separate regulations and are not something Hanover Mortgage Company offers. This deal is an example of a business-purpose 2nd TD on an owner-occupied SFR.
What is a business-purpose hard money loan?
A business-purpose loan is one where the borrower uses funds for a commercial purpose — working capital, business reserves, investment activity — rather than personal or consumer use. Hanover arranges business-purpose hard money loans secured by California real estate.
What does 29% CLTV mean?
CLTV stands for Combined Loan-to-Value — total liens divided by appraised value. At 29% CLTV, all loans on this property combined equaled just 29% CLTV of its value.
How fast can a hard money 2nd TD close in California?
Timelines vary, but hard money loans typically move faster because underwriting is handled in-house rather than through a multi-step approval process.
Does Hanover arrange loans on owner-occupied properties?
Yes, for business purposes only. All loans are subject to qualification and California licensing requirements. Call (714) 838-1474 x 102 for sales to discuss your scenario.
What areas does Hanover serve in Los Angeles County?
Hanover arranges hard money loans throughout Los Angeles County — Palos Verdes Estates, Rancho Palos Verdes, Torrance, Long Beach, Inglewood, and the broader LA metro.Serving all of California.
Business purpose loans only. Not a commitment to lend. All loans subject to qualification.
(714) 838-1474 x102 | Apply Now →