$780,000 Cross Collateral Flip Loan in Newark and Redwood City, CA
Loan Amount: $780,000
Term: 9 months
The borrower has been flipping homes for 3 years and has a full-time crew. They purchased this vacant property to build an addition and used another property as collateral. With the help of First Bridge Lending, they were able to make a non-contingent purchase using all borrowed funds.
The loan amount totaled $780,000 at 41% LTV for a 9-month term. A First Bridge Lending originator facilitated this deal and helped the client secure funding for their rental purchase.
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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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