$775,000 Investment Loan in Los Angeles, CA
Loan Amount: $775,000
Type: Investment Loan
Term: 12 months
The borrower made an all-cash property purchase and was looking to make an offer on the neighboring property in order to complete permitting and sell both parcels to a developer. First Bridge Lending placed a single loan across both properties, allowing the borrower to cover 100% of the new purchase with the loan proceeds.
The loan amount totaled $775,000 at 55% LTV for a 12-month term. First Bridge Lending agent Scott Townes facilitated this deal and helped the client secure both properties as rentals while they begin the permitting and planning process and marketing of the land to developers.
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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/Commercial properties
CA Licensed: CFL, BRE, NMLS