$1,275,000 Owner Occupied Bridge Loan in Huntington Beach, CA
Loan Amount: $1,275,000
Type: Owner Occupied Bridge Loan
Term: 12 months
The borrowers were empty-nesters who found their dream home, but needed to close on the purchase before they had an opportunity to sell their current home. First Bridge Lending structured a bridge loan that allowed the borrower to draw from the equity in their existing property to fully cover the purchase price of their new home. The borrowers were able to move into their new home and prepare their original home for sale at their convenience. After that sale, they will comfortably qualify for conventional financing.
The loan amount totaled $1,275,000 at 65% LTV for a 12-month term. First Bridge Lending agent Scott Townes facilitated this deal and helped the client secure funding for their new home.
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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/Commercial properties
CA Licensed: CFL, BRE, NMLS