Hard Money Loan for Double-Close SFR Transaction in Los Angeles, California

ARCH Loans, a private lender, funded a $430,000 1st lien position bridge loan for the purchase of a single-family home in the Atwater Village neighborhood of Los Angeles, California. A real estate investor approached us with a fantastic deal that required transactional funding for a double-close wholesale transaction. It was an opportunity that needed action taken immediately before the deal was lost. This was a no-brainer for us because the investor already had an end-buyer lined up, and it was easy to see the value in the property. In just two days, we provided 100% financing on the purchase of $430,000. Our unique transactional funding product has an added bonus – if the Borrower pays off our loan within 30 days, we will refund the 1 point (origination fee) and a portion of the loan processing fees. The cherry on top for our new Borrower client was the speed of the loan and the refund on top of that. This hard money loan was funded in May 2019.