$446,000 Purchase Flip Loan in San Jose, CA
Loan Amount: $446,000
Type: Purchase Flip
Term: 12 months
This 3-bedroom, 2-bath, 1,100-square-foot property was a single-family home in poor condition that the borrower wanted to flip for profit. The borrower, a repeat client, directly contacted First Bridge Lending for assistance, since a conventional lender wouldn’t be likely to make a loan on the property. With the borrower’s high credit score and house-flipping experience, as well as our knowledge of the local San Jose market, we were able to fund a private loan and close the deal within a week.
The loan amount was $446,000 with an LTV of 72%. A First Bridge Lending originator assisted the client with the property loan. The loan for the property closed within a week and the seller did not list the property on the open market.
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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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