$835,000 Owner Occupied Bridge Loan in Morgan Hill, CA
Loan Amount: $835,000
Type: Owner Occupied Bridge Loan
Term: 12 months
The borrower is retired and owns their current residence and a rental property free and clear. First Bridge Lending provided an owner-occupied bridge loan, which allowed the borrower to access the equity in their current Condo in Morgan Hill, CA to purchase their new 2-bedroom 2-bathroom SFR located in a Morgan Hill retirement community. The borrower was able to list their current residence for sale and take time to consider since they already secured their new residence with the First Bridge Lending bridge loan.
The loan amount totaled $835,000 at 56% LTV for a 12-month term. First Bridge Lending originator Brian Haines facilitated this deal and helped the client secure funding to purchase their new home.
Quick Process puts you in touch with decision makers
Loans funded in 3 business days
In-house Underwriting, No Appraisal Required
FBL Track Record
Over 3,500 loans totaling more than $2 billion closed since 2012
Funded loans from $100,000 to $5 Million on Residential/Commercial properties
CA Licensed: CFL, DRE, NMLS