$4,400,000 Cash-Out Refinance Loan in Costa Mesa, CA

Loan Amount: $4,400,000

LTV: 55%

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.

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Loans funded in 3 business days
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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, DRE, NMLS

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