$345,000 Flip Loan in San Dimas, CA
Loan Amount: $345,000
Term: 9 months
The borrower was looking to purchase an investment property in need of heavy renovations in order to flip the property for resale. They were working with a different lender, and the original lender did not have the capital required for the borrower to close on the property. The borrower needed to close in 72 hours to secure the property, and a wholesaler referred them to First Bridge Lending. Loan documents were in escrow the next day and we were prepared to fund within 1 business day.
The loan amount totaled $345,000 at 70% LTV for a 9-month term. A First Bridge Lending originator facilitated this deal and helped the client secure funding for their property purchase and renovations.
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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/Commercial properties
CA Licensed: CFL, DRE, NMLS