$1,125,000 Owner Occupied Bridge Loan in El Dorado Hills, CA
Loan Amount: $1,125,000
Type: Owner Occupied Bridge Loan
Term: 12 months
One borrower works in the school district and the other borrower is retired. Borrowers are moving to downsize. First Bridge Lending provided an owner occupied bridge loan, which allowed the borrower to access the equity in their current 4,485 sq. ft. residence on 1.06 acres in El Dorado Hills, CA to purchase their new 2,351 sq. ft. home on .48 acres in El Dorado Hills, CA. They will list their current residence and the sale will pay off the loan.
The loan amount totaled $1,125,000 at 59% LTV for a 12-month term. First Bridge Lending originator Louis Bardis facilitated this deal and helped the client secure funding to purchase their new home.
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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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