SF Bay Area Bridge Lenders for Residential Investment Property

Yieldi, a direct lender for investment properties nationwide, funded an $8,500,000 1st lien position bridge loan for the acquisition of a single-family home in Woodside, California. The purchase price was $15,800,000 and the Borrower put down around 50% cash. The Borrower owns multiple properties without any debt and also had approximately $10,000,000 liquid cash. The loan-to-purchase price was 50%, but we cross-collateralized 3 other properties in Northern California that were owned free-and-clear by the Borrower and worth approximately an additional $15,000,000. This put our loan-to-value at around 30% in 1st position for all 4 properties. The Borrower has owned a commercial construction company for 14 years and a government contracting company for a few years. He has built and sold a of couple other small businesses which allowed him to buy his portfolio of properties all cash. His credit score was 750. He was in a unique situation. JP Morgan denied the loan request because the Borrower had a loan with them on another property and until he sold it, they wouldn’t extend him any more credit. Therefore, he had no choice but to go with private money. His exit strategy is to sell his current home and pay us off. That home is currently listed for sale. The interest rate for our loan is 12.5%. The loan term was set at 12 months. This SFR purchase bridge loan was funded in June 2023.

Conventus LLC, a direct private mortgage lender, funded a $964,750 1st lien position bridge loan for the acquisition of a single-family home in San Mateo, CA, situated midway between San Francisco and San Jose. We funded 85% of the $1,135,000 purchase price, while the Borrower contributed 15% cash at closing. They had good credit and will also finance the rehab themselves. The subject property was in good condition and vacant at closing. The Borrower’s investment plan is to renovate the existing home and put the property back on the market to sell. The Borrower will spend approximately $275,000 on the renovations. The after-repair value and sale price were estimated to be $1,800,000. So the loan-to-after-repair value should be approximately 54%. We charged a 9% interest rate and a 1% origination fee. The loan term was set at 12 months with no prepayment period or penalty. This SFR purchase bridge loan was funded in March 2023.

Stonecrest Financial, a direct California private lending firm, funded a $3,402,750 private money bridge loan for a primary residence home in Los Gatos, Santa Clara County, California. The Borrowers wanted to purchase their next home in Los Gatos prior to selling their departing residence in San Jose. They utilized our Bridge Loan program to make it happen. We gave them a new 1st position loan on their new home and crossed-collateralized their departing property which had a sufficient amount of equity. This allowed us to achieve a 70% combined loan-to-value. The loan term is 6 months. When they sell the San Jose property, they will pay our loan down and use permanent financing to retire our loan completely. The Los Gatos home is a 4,198 sq ft single-family residence on a 14,505 sq ft lot. The home was built in 1965 and is located at the end of a cul-de-sac. It has 4 bedrooms, 4.5 bathrooms, a bonus/game room, and a wine cellar. This purchase bridge loan was funded in January 2019.

Stonecrest Financial, a private money lender, funded a $1,175,000 1st lien position purchase bridge loan for the acquisition of a single-family home in Half Moon Bay, CA. The Borrowers needed a residential bridge loan to help purchase a new home in Half Moon Bay before selling their current residence in Redwood City. We provided them the loan on the purchased property crossed behind a $500,000 loan on the departing property. The Half Moon Bay property is a 2-story single-family home that is 3,286 sq ft on a 7,500 sq ft lot and has 4 bedrooms and 2.5 bathrooms. It was built in 1988 and has a partial view of the ocean. The inside has been recently remodeled. The departing property in Redwood City is a 1,280 sq ft 1-story home on a 6,426 sq ft lot with 3 bedrooms and 2 bathrooms. It was built in 1920. The inside has been remodeled with granite countertops and stainless steel appliances. We funded this loan in a short period of time enabling the Borrower to take advantage of a good opportunity in a hot Northern California market. The SFR purchase bridge loan was funded in May 2018.

Stonecrest Financial, a private money lender, funded a $1,500,000 1st lien position bridge loan for the acquisition of a single-family home in Los Gatos, CA. Our Borrower is a past Client and active real estate investor. He wants to purchase a Los Gatos property for his portfolio. The property is a great deal and he plans to fix and flip it. The purchase price was $2.2MM and the Borrower put down $700,000 in cash. The subject property is a 2-story single-family home that has 4 bedrooms and 3 bathrooms, is 3,697 sq ft and sits on 1.23 acres. There is an additional finished 690 sq ft basement. This home was built in 1986 and is surrounded by beautiful, mature landscaping with an oasis in the backyard featuring an in-ground pool and hot tub. This SFR purchase bridge loan was funded in January 2018.

Stonecrest Financial, a direct private mortgage lender based in San Jose, funded a $1,065,000 1st lien position bridge loan for a single-family home in Fairfax, CA. The Borrowers used Stonecrest’s Bridge Loan program to help them downsize from their home in San Anselmo to a new home in Fairfax, Marin County. They needed to use this program in order to compete with non-contingent offers in the marketplace. The Fairfax home, crossing the departing residence in San Anselmo, which is a 1,212 sqft two-story single-family home built in 1926 and sits on 3.6 acres. It has 2 bedrooms and 1 bathroom. The tranquil property creates the feeling of a mountain paradise while only minutes from downtown Fairfax. The Fairfax home was built in 1959. It is 2,350sqft, has 4 bedrooms and 3 bathrooms, and sits on an 18,000 square foot lot. We funded this loan in May 2017.

Wilshire Quinn Capital, a portfolio bridge lender, funded a $1,050,000 1st lien position bridge loan for a residential investment property in El Cerrito, CA. The loan allowed the Borrower to purchase an investment property that needed to close quickly. The property is a 4,000-square-foot single-family residence, with four bedrooms, three and a half bathrooms, wrap around decks and views of the San Francisco Bay. The property was appraised for $1,750,000, giving the Wilshire Quinn Income Fund a total loan-to-value of 60% on the transaction. This SFR purchase bridge loan was funded in February 2017.