$200,000 Flip Loan in Sonoma, CA
Loan Amount: $200,000
Type: Flip Loan
Term: 9 months
The borrowers are in the financial industry and interior design industry while flipping houses part-time. They purchased the subject property for $1,172,000 in 2021 and have spent $400,000 on renovations. First Bridge Lending refinanced the 2,039 sq ft SFR with 3-bedrooms and 2-bathrooms located in Sonoma, CA; allowing the borrowers to use equity from the property to recoup rehab expenses while the property is listed.
The loan amount totaled $200,000 at 13% LTV for a 9-month term. First Bridge Lending originator Christopher Carey facilitated this deal and helped the client secure funding on their latest flip.
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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/Commercial properties
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