$450,000 Acquisition Bridge Loan in Ukiah, CA
Loan Amount: $450,000
Term: 12 months
The borrower is an inexperienced investor who operates a family business that does equine training. They were exercising a lease option to purchase from 2015 with a strike price of $619,000. The borrower paid $100,00 in cash in 2015 and amortized the balance to $450,000 through monthly lease payments. First Bridge Lending provided a loan for the borrower to finalize the purchase of the rental property.
The loan amount totaled $450,000 at 61% LTV for a 12-month term. First Bridge Lending originator Louis Bardis facilitated this deal and helped the client secure funding for their SFR purchase.
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Over 3,500 loans totaling more than $2 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
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