$273,000 Acquisition Loan in Manteca, CA
Loan Amount: $273,000
Term: 6 months
The borrower has been a real estate agent and investor for nearly 20 years. They have invested in 3 fix and flips in the last 12 months and own a rental property. They came to First Bridge Lending to finance the purchase of their fix and flip property to expand their portfolio. The borrower plans to invest $50,000 into the 4-bedrooms and 3.5-bathrooms 2,499 sq ft SFR. After completing the cosmetic upgrades, the borrower will list it for sale to make a profit.
The loan amount totaled $273,000 at 70% LTPP for a 6-month term. First Bridge Lending originator Roxanna Amaya facilitated this deal and helped the client secure funding to purchase their next investment property.
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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/Commercial properties
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