$1,500,000 Owner Occupied Bridge Loan in Lincoln, CA & Novato, CA
Loan Amount: $1,500,000
Type: Owner Occupied Bridge Loan
Term: 12 months
The borrowers are retired on a fixed income looking to relocate to a new area in CA. First Bridge Lending provided an owner occupied bridge loan, which allowed the borrower to access the equity in their current 3-bedroom and 3.5-bathroom residence in Novato, CA and their new 3-bedroom and 2.5-bathroom residence in Lincoln, CA. The Novato, CA residence will list for $2,195,000 and will pay off the loan once it sells.
The loan amount totaled $1,500,000 at 49% LTV for a 12-month term. First Bridge Lending originator Louis Bardis facilitated this deal and helped the client secure financing for 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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