Fix and Flip In Sugarloaf, California
By Hanover MC On June 16 2023
This purchase loan provided acquisition and renovation funds for this Fix & Flip project.
60 Mo 1st TD Term
Hard Money Fix & Flip Loan Closed in Sugarloaf, CA
The Deal
Hanover MC arranged a hard money purchase loan secured by a single-family residence in Sugarloaf, CA. The acquisition funds allowed an experienced real estate investor to buy the property for a fix & flip project, closing on business purpose terms with no bank qualifying.
At 60% loan-to-value against the property's after-repair value (ARV), the loan provided purchase capital plus a rehab budget, secured by a first trust deed with a 60-month term on principal-and-interest payments.
About Sugarloaf, CA
Sugarloaf is an unincorporated residential community less than a mile south of Big Bear City and about 8 miles from the eastern tip of Big Bear Lake, in the San Bernardino Mountains. The area is primarily residential, centered around a convenience store and post office, with fire, water, and police service provided by San Bernardino County rather than a local municipal government. The community takes its name from nearby Sugarloaf Mountain, said to resemble a loaf of sugar from the days when sugar was sold in loaf form.
Loan Facts
| Loan Type | SFR Purchase – Fix & Flip |
| Purpose | Acquisition & Rehab of SFR |
| Purchase Price | $130,000 |
| After-Repair Value (ARV) | $235,000 |
| Rehab Budget | $30,000 |
| Loan-to-Value (ARV) | 60% |
| Lien Position | First Trust Deed |
| Term | 60 Months, P&I |
| County | San Bernardino County, CA |
| Principal Amount | $135,000 |
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Frequently Asked Questions
Who funded this loan?
This loan was funded through private trust deed investors, arranged by Hanover MC. Hanover MC is a private money mortgage company.
What loan did Hanover MC arrange in Sugarloaf, CA?
A $135,000 hard money purchase loan on a single-family fix & flip property at 60% loan-to-value against the after-repair value, secured by a first trust deed with a 60-month term.
Who was the borrower?
A real estate investor acquiring the property for a fix & flip project. This was a business purpose loan, not an owner-occupant purchase.
Does Hanover MC arrnage lending in the Big Bear / Sugarloaf area of San Bernardino County?
Yes. Sugarloaf is an unincorporated mountain community near Big Bear, and this deal shows Hanover MC structuring loans for investment property outside the county's more urban corridors.
What does 60% ARV loan-to-value mean on a fix & flip loan?
It means the loan amount is sized against the property's projected after-repair value (ARV) rather than its current purchase price, up to 60% of that future, renovated value.
Get Started With No Nonsense Hard Money
Purchase & rehab capital, arranged on an asset-based, business-purpose basis.
Call (714) 838-1474 x102Hanover 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.