$650,000 Refinance Loan in San Gabriel and Moreno Valley, CA

Loan Amount: $650,000

LTV: 65%

Type: Refinance

Term: 6 months

The borrower had a $3MM blanket loan, and these properties were the only two remaining. They came to First Bridge Lending for a refinance loan to pay off the remainder of the blanket loan, since they were offered a reduced payoff by the existing lender if the loans were repaid by a specific deadline. The properties were held in a multiparty trust with a single blanket loan and individual releases, so we were able to work with multiple trustees to complete the refinance.

The loan amount totaled $650,000 combined at 65% LTV for a 6-month term. First Bridge Lending agent Scott Townes facilitated this deal and helped the client save more than $70,000 by completing the refinance in the timeframe required by the current lender.

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Over 2,000 loans totaling more than $1 billion closed since 2012
Funded loans from $100,000 to $5 Million on Residential/Commercial properties
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