Cash-Out Second Mortgages in Santa Monica
Keep Your First Loan in Place.
Tap the equity in your Santa Monica 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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Cash-Out Second Mortgages in Santa Monica
What to Know About Santa Monica
Santa Monica is a small, almost entirely built-out beach city, with large single-family homes north of Montana, older cottages and bungalows in Ocean Park and Sunset Park, and a large stock of rent-controlled apartments. Much of the city near the water falls within the California coastal zone.
Owners north of Montana and in Sunset Park often hold very large equity positions, and many have a first loan at a rate that would be painful to give up. A private second can access part of that equity for a business purpose on a primary residence, or from an investment property. With apartment buildings, Santa Monica’s rent control rules factor heavily into how we view the income.
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
Santa Monica Neighborhoods
We lend throughout Santa Monica and the rest of Los Angeles County, including these areas.
Straight Answers
Cash-Out Second Mortgages in Santa Monica: Questions
Can I take a second on my North of Montana home?
Yes, for a business purpose on a primary residence or on investment property. The second sits behind your existing first, which stays as it is.
Do you lend in Santa Monica?
Yes. We’re a California-licensed direct lender headquartered in Glendale, and we underwrite Los Angeles County deals directly, including Santa Monica, rather than routing them through 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 Santa Monica
Cash-Out Second Mortgages Elsewhere in Los Angeles County
Have Equity in Your Santa Monica Property?
Tell us about it and we’ll give you a straight answer.
Get Started → or call (818) 937-9987Serving Santa Monica 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.