$800,000 Refinance Loan in San Rafael, CA
Loan Amount: $800,000
Term: 12 months
The borrower is a full-time real estate investor with 20 years’ experience who was looking for a loan on their commercial retail property in order to pay property taxes on other assets in their portfolio. This retail location is in the main commercial area of San Rafael with a current lease by a beauty shop. The borrower purchased the property in December 2017 for $3,225,000.
The loan amount totaled $800,000 with an additional $100,000 advance at 25% LTV for a 12–month term. A First Bridge Lending originator facilitated this deal and helped the client close within a week to secure funding for property tax payments on other properties in their portfolio.
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Over 3,500 loans totaling more than $2 billion closed since 2012
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