$700,000 Acquisition Bridge Loan in Castro Valley, CA
Loan Amount: $700,000
Term: 6 months
The borrower is an East Coast investor who was looking to buy their first California rental. First Bridge Lending provided financing to purchase the 4-bedroom, 3-bathroom SFR in Castro Valley, CA to save the deal when the borrower’s bank lender was no longer lending. The borrower purchased the property for $1,150,000 and will rent the upstairs for $3,500/month and the downstairs for $2,000/month.
The loan amount totaled $700,000 at 61% LTPP for a 6-month term. First Bridge Lending originator Christopher Carey facilitated this deal and helped the client secure funding for their SFR purchase.
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Over 2,000 loans totaling more than $1 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
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