$130,000 Flip Loan in San Bernardino, CA

Loan Amount: $130,000

LTV: 70%

Type: Flip

Term: 7 months

The borrower was a first-time house flipper, and they needed an acquisition loan to close on a vacant property they intend to flip. First Bridge Lending was able to structure the loan so that the borrower needed less than $30,000 to close on a $185,000 purchase price.

The loan amount totaled $130,000 at 70% LTPP for a 7-month term, with a second DOT of $267,677 at 15% LTPP. First Bridge Lending agent Scott Townes facilitated this deal and helped the client secure funding to flip their vacant property and get it back on the market.

Why FBL
Private Lender
Direct Lender
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 2,000 loans totaling more than $1 billion closed since 2012
Funded loans from $100,000 to $5 Million on Residential/Commercial properties
CA Licensed: CFL, BRE, NMLS

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