$780,000 Owner Occupied Bridge Loan in Redding & Redwood City, CA

Loan Amount: $780,000

LTV: 50%

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.

Why FBL

Private lender

Direct lender

Quick process puts you in touch with decision makers

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

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