$2,112,500 Acquisition Bridge Loan in Sausalito, CA
Loan Amount: $2,112,500
Type: Acquisition Bridge Loan
Term: 6 months
The borrowers are experienced landlords with Bay Area rental properties, who were seeking financing with First Bridge Lending to expand their family holdings. FBL was able to fund the purchase of the SFR in 48 hours when a bank loan was too slow to close the deal. The borrowers already had a tenant lined up with expected rent of $10,000/month, and they plan to refinance with a conventional bank loan within a few months.
The loan amount totaled $2,112,500 at 65% LTPP for a 6-month term. First Bridge Lending agent originator Christopher Carey, facilitated this deal and helped the client secure funding for their SFR purchase.
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 2,000 loans totaling more than $1 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
CA Licensed: CFL, DRE, NMLS