$1.1M Refinance Loan in San Francisco, CA
Loan Amount: $1,104,000
Term: 12 months
The borrower was referred to First Bridge Lending by a mortgage broker we work with on a regular basis. They were in a bind and needed cash to finish renovations on the property in order to lease the units for a higher rent. The borrower had a high credit score and high monthly salary, so we were able to accommodate their request with confidence and fund the loan in a timely manner. We net funded 6 months of payments, plus an additional draw to call at a later time after we could see progress on the property.
The loan amount totaled more than $1.1M at 59% LTV for a 9-month term, as well as $100,000 as an additional draw. First Bridge Lending agent Mark Young facilitated this deal and helped the client secure funding in time to refinance the property, as well as complete construction work and renovations.
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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/Commercial properties
CA Licensed: CFL, BRE, NMLS