$440,000 Acquisition Bridge Loan in San Leandro, CA
Loan Amount: $440,000
Term: 12 months
The borrower is a project manager for a construction firm who was looking to purchase their first real estate property to rent. They came to First Bridge Lending for financing on the 3-bedroom 2-bathroom SFR. The borrower purchased the property for $800,000 and expects to rent the SFR for $3,500/month.
The loan amount totaled $440,000 at 55% LTPP for a 12-month term. First Bridge Lending originator Christopher Carey facilitated this deal and helped the client secure funding for their first rental property.
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Loans funded in 3 business days
In-house underwriting, no appraisal required
FBL Track Record
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
CA Licensed: CFL, DRE, NMLS