$1,200,000 Owner Occupied Bridge Loan in Santa Clara, CA
Loan Amount: $1,200,000
Type: Owner Occupied Bridge Loan
Term: 6 months
The borrower is in finance and choosing to relocate due to the recent shift to remote work. First Bridge Lending provided an owner occupied bridge loan, which allowed the borrower to access the equity in their current residence for the down payment on their out-of-state purchase of their new home. The subject property had extensive renovations along with construction of a new ADU. They will sell their current home to pay off the loan.
The loan amount totaled $1,200,000 at 65% LTV for a 6-month term. A First Bridge Lending originator 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 3,500 loans totaling more than $2 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
CA Licensed: CFL, DRE, NMLS