$600,000 Flip Loan in Santa Clara, CA
Loan Amount: $600,000
Term: 6 months
The borrower is a real estate broker who has flipped three properties in the last two years. They came to First Bridge Lending for a loan to remodel the kitchen and bathrooms of this property, as well as complete some minor cosmetic upgrades. The property was purchased below market value for $885,000, and the borrower plans to list it for $1.3M.
The loan amount totaled $600,000 at 68% LTV for a 6-month term. First Bridge Lending agent Louis Bardis facilitated this deal and helped the client secure funding within 10 days to use toward remodeling expenses on their fix and flip property.
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Over 3,500 loans totaling more than $2 billion closed since 2012
Funded loans from $100,000 to $5 Million on Residential/Commercial properties
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