San Jose Bridge Lenders for Commercial Real Estate
A list of bridge loan lenders for commercial real estate in San Jose and Silicon Valley. The lenders in our directory offer bridge loans for a variety of CRE financing, including: acquisition, refinance, cash out, redevelopment, repositioning, recapitalization, 1031 exchange, discounted payoff (DPO), note purchase and other deal types.
1st trust deed bridge loan for the purchase of an 8-unit residential property close to Downtown San Jose, funded in June 2014. The Borrower is an investor group that purchased the property using $360,000 of their own cash and a $150,000 seller-financed 2nd mortgage. The purchase price was a little over $800,000. We were comfortable having a 2nd behind our 1st private mortgage since the combined LTC was under 60% and the borrower had strong financials. The Borrower plans to increase rents and refinance out both the 1st and 2nd with a long-term conventional mortgage.