$400,000 Higher LTV Flip Loan in Oakland, CA
Loan Amount: $400,000
Type: Higher LTV Loan
Term: 9 months
The borrower partnered with their father, who has flipped 4 homes in the last 6 years, to purchase this SFR for their first joint flip. The property is in a good location, though dated finishings and repairs will require $60,500 in improvement costs. They purchased the property for $500,000 and expect to sell it for $751,000 upon completion.
The loan amount totaled $400,000 at 80% LTPP and 53% ARV for a 9-month term. A First Bridge Lending originator facilitated this deal and helped the client secure funding for their flip.
Quick process puts you in touch with decision makers
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 and commercial properties
CA Licensed: CFL, DRE, NMLS