$542,000 Acquisition Loan in North Fork, CA
Loan Amount: $542,000
Term: 18 months
The borrowers are real estate brokers and engineers who own multiple properties, including vacation rentals. They came to First Bridge Lending to finance the purchase of their next vacation rental property to expand their portfolio. The 4,389 sq ft mountain style SFR with 5-bedrooms and 3-bathrooms is located on 7 acres in a semi-rural neighborhood south of Bass Lake. The borrowers plan to do light remodeling before relisting the property as a vacation rental.
The loan amount totaled $542,000 at 51% LTPP for an 18-month term. First Bridge Lending originator Louis Bardis facilitated this deal and helped the client secure funding to purchase their next investment property.
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