$446,000 Purchase Flip Loan in San Jose, CA

Loan Amount: $446,000

LTV: 71%

Type: Purchase Flip

Term: 12 months

Client was interested in purchasing a single-family residence home in San Jose to flip for a profit. The Hurlingham property had not yet been listed on the open market, so the client came to First Bridge Lending hoping to move quickly. First Bridge Lending was able to fund the client’s loan within three days, which kept the property from being listed by the seller.

The loan amount was $446,000 with an LTV of 71%.

The vacant property was a 3-bed, 2-bath single family home with 1,188 square feet. The client was interested in purchasing the property because of its potential to be flipped. In a desirable location with a good existing structural base, the property was perfectly poised for renovations. The potential to turn a profit on the property was high and the client wanted to quickly purchase the property before other buyers were interested.

First Bridge Lending agent Hannah Edwards assisted the client with the property loan. The loan for the property closed within 3 days and the seller did not list the property on the open market.

Why FBL
Private Lender
Direct Lender
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 nearly $1 billion closed since 2012
Funded loans from $100,000 to $5 Million on Residential/Commercial properties
CA Licensed: CFL, BRE, NMLS

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