$175,000 Flip Loan in Ontario, CA
Loan Amount: $175,000
Type: Flip Loan
Term: 6 months
The borrowers, husband and wife, are an experienced home flipper team who typically purchase properties with all cash. They came to First Bridge Lending for financing for their latest property, a 4-bedroom, 2-bathroom SFR in Ontario, CA. They plan to remodel the kitchen and bathrooms, install new flooring throughout the house, and landscape both the front and back yards. The borrowers purchased the property for $375,000 and intend to list the finished property for $525,000.
The loan amount totaled $175,000 at 47% LTPP for a 6-month term. A First Bridge Lending originator facilitated this deal and helped the client secure funding for their flip property.
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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 and commercial properties
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