$240,000 Flip Loan in Rialto, CA
Loan Amount: $240,000
Type: Flip Loan
Term: 9 months
The borrowers, husband and wife, are an experienced home flipper team who successfully complete two to three projects per year. They purchased this 4-bedroom, 2.75-bathroom SFR in Rialto, CA for $370,000 with the help of a $240,000 loan from First Bridge Lending. The 2-story home is located on a corner lot in a mature, well-kept neighborhood. The borrowers plan to invest $30,000 for paint, minor upgrades, and landscaping, then re-sell for $450,000.
The loan is 65% LTPP for a term of 9 months. First Bridge Lending Originator Lynne Sullivan facilitated this deal and helped the clients secure funding for their latest flip property.
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 2,000 loans totaling more than $1 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
CA Licensed: CFL, DRE, NMLS