$4,400,000 Cash-Out Refinance Loan in Costa Mesa, CA
Loan Amount: $4,400,000
Type: Cash-Out Refinance
Term: 6 months
The borrower purchased a 23-unit multi-family investment property in 1994 and was looking to cash out in order to use the proceeds for a development deal and to buy out an equity partner. With a cash-out refinance loan from First Bridge Lending, the borrower received the required short-term capital to move forward with their development project and restructure their entity ownership.
The loan amount totaled $4,400,000 at 55% LTV for a 6-month term. A First Bridge Lending loan originator facilitated this deal and helped the client secure capital for their development project with no cash out of pocket.
Quick Process puts you in touch with decision makers
Loans funded in 3 business days
In-house Underwriting, No Appraisal Required
FBL Track Record
Over 3,500 loans totaling more than $2 billion closed since 2012
Funded loans from $100,000 to $5 Million on Residential/Commercial properties
CA Licensed: CFL, DRE, NMLS