$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. A First Bridge Lending originator facilitated this deal and helped the clients secure funding for their latest flip property.
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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 and commercial properties
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