$780,000 Owner Occupied Bridge Loan in Redding & Redwood City, CA
Loan Amount: $780,000
Type: Owner Occupied Bridge Loan
Term: 12 Month
The borrowers wanted to purchase a custom-built 3-bedroom, 2.5-bathroom home on 5 acres in Redding, CA, but needed time to sell their current 2-bedroom, 1-bathroom home in Redwood City. First Bridge Lending provided a bridge loan that allowed the borrowers to purchase their dream home quickly in the fast-paced California housing market without first selling their current residence. The borrowers could then take their time putting their current home on the market, increasing the likelihood of receiving a higher offer.
The loan amount totaled $780,000 at 50% LTV for a 12-month term. The sale of the current residence will fully pay off the loan. First Bridge Lending originator Brian Haines facilitated this deal and helped the client secure funding to purchase their new home.
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In-house underwriting, no appraisal required
FBL Track Record
Over 2,000 loans totaling more than $1.35 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
CA Licensed: CFL, DRE, NMLS