$300,000 Refinance Loan in Emeryville, CA
Loan Amount: $300,000
Term: 12 months
The borrower is a full-time investor who purchased this property in 2014 for $520,000. They recently evicted the tenants and will be completing a remodel of all 4 units before re-leasing for an estimated gross rent of $8,000/month. They came to First Bridge Lending for a line of credit loan with initial funding of $67,000 and additional draws in $25,000 increments.
The loan amount totaled $300,000 at 57% LTPP for a 12-month term. First Bridge Lending agent Louis Bardis facilitated this deal and helped the client secure funding for their remodel and re-lease all 4 units.
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Over 3,500 loans totaling more than $2 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
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