$1.1M Refinance Loan in San Francisco, CA
Loan Amount: $1,104,000
Term: 12 months
Client was in the midst of renovations on his new property, but found himself short the necessary capital to finish renovations. Client came to First Bridge Lending interested in refinancing. On Thursday, the client came in, and by Monday, the loan was closed and the client was funded. By closing within three days, the client was able to avoid the property tax penalty commonly associated with owner-refinanced loans.
The LTV was 59% and the loan amount was for $1,104,000. The property was listed as a “vacant property” as client was not living on the property at the time of the loan. The completed renovation would make the property habitable and the client could move in or flip the home.
The property itself was a single-family home in San Francisco. The home was a 1,850 square foot dwelling with a single bathroom. Built in 1906, it was in need of renovations to update its sales appeal.
First Bridge Lending agent Louis Bardis accelerated the loan process to help the client quickly receive his renovation funds without the property tax penalty. First Bridge Lending is a private lender that works with clients directly and can quickly expedite loan processes that traditional banks drag out. Move quickly with a First Bridge Lending property loan.
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Loans funded in 3 business days
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FBL Track Record
Over 2,000 loans totaling nearly $1 billion closed since 2012
Funded loans from $100,000 to $5 Million on Residential/Commercial properties
CA Licensed: CFL, BRE, NMLS