$1,060,000 Flip Loan in Sunnyvale, CA
Loan Amount: $1,060,000
Type: Flip Loan
Term: 6 months
The borrower is a new investor who wanted to flip their now-vacant former residence. They purchased the property for $1,470,000 in 2014 and have spent $160,000 on renovations. First Bridge Lending provided a loan that would allow the borrower to complete renovations to sell the finished property. The borrower expects to sell the SFR for at least $2,000,000.
The loan amount totaled $1,060,000 at 65% LTV for a 6-month term. First Bridge Lending originator Christopher Carey facilitated this deal and helped the client secure funding for their 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 and commercial properties
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