The borrower is an experienced investor and full-time developer. They purchased the parcel on a busy street close to Santa Clara University for $1,300,000 and have invested $2,500,000 in building 3 new single-family homes on a subdivided lot. The homes are free and clear, and the borrower came to First Bridge Lending for financing to complete landscaping and utilities before reselling for an estimated $5.6MM total.

The loan amount totaled $700,000 at 16% LTV for a 12-month term. First Bridge Lending agent Louis Bardis facilitated this deal and helped the client secure funding for final landscaping and utilities on new homes before reselling for a profit.

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 3,500 loans totaling more than $2 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
CA Licensed: CFL, DRE, NMLS