$700,000 Refinance/Flip Loan in Santa Clara, CA
Loan Amount: $700,000
Term: 12 months
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.
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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 and commercial properties
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