Cash-Out Second Mortgages in Alhambra
Keep Your First Loan in Place.
Check Your Eligibility ↓
Tap the equity in your Alhambra primary residence or investment property for a business or investment purpose, without refinancing your existing first mortgage, subject to our underwriting.
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Know Before You Call
Do You Qualify? What to Expect
Quick Self-Check
Is This the Right Loan for You?
- You own a home or investment property in California with real equity in it.
- The money is going to a business, an investment property or a project.
- You need $50K or more.
- You need to borrow more than 65% of the property’s value, counting your first mortgage.
- The money is for personal or household expenses.
Cash-Out Second Mortgages in Alhambra
What to Know About Alhambra
Alhambra sits on mostly flat ground at the western edge of the San Gabriel Valley, with the 10 Freeway along its southern side. The older blocks north of Main Street hold Craftsman and Spanish revival homes from the early 1900s through the 1930s, and many single-family lots across the city were later rebuilt as apartments and condominiums.
Alhambra owners tend to hold one of two things: an early-century house on a quiet street like those in Emery Park or the Midwick Tract, or a small apartment building that replaced a bungalow decades ago. Both can carry a first mortgage with terms the owner wants to protect. Our second lien goes behind that loan for a business or investment purpose, on a primary residence or a rental. With multi-unit buildings we ask for the leases and actual rents up front.
How It Works
Cash-Out 2nd Mortgage Terms
Rates, points and fees depend on the property and the deal and are disclosed in writing before you commit.
Where We Lend
Alhambra Neighborhoods
We lend throughout Alhambra and the rest of Los Angeles County, including these areas.
Straight Answers
Cash-Out Second Mortgages in Alhambra: Questions
I own a small apartment building in Alhambra with a good first loan. Can I add a second?
Yes. The second goes behind your current first mortgage for a business or investment purpose. Send the leases and current rents so we can see how the building performs.
Do you lend in Alhambra?
Yes. We’re a California-licensed direct lender headquartered in Glendale, and we underwrite Los Angeles County deals directly, including Alhambra, rather than handing them to an out-of-state call center.
Can I borrow against my primary residence?
Yes, when the loan is for a business or investment purpose. That’s what sets us apart from many private lenders who won’t lend on an owner-occupied home. A signed business-purpose statement is required at closing, and the proceeds can’t be used for personal or household expenses.
More in Alhambra
Cash-Out Second Mortgages Elsewhere in Los Angeles County
Have Equity in Your Alhambra Property?
Tell us about it and we’ll give you a straight answer.
Get Started → or call (818) 937-9987Serving Alhambra and Los Angeles County, California
Michael Daniel Investments, Inc.
417 Arden Ave, Suite 121A, Glendale, CA 91203 · (818) 937-9987
California Department of Real Estate DRE# 02037255 and NMLS# 233991.