)
Deal Details
Private Loan Type
Purchase
Approx. Funding Date
07/22/2019
Property Type
Single Family Residence
Property City
Ontario
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Purchase Price
47%
Borrower's Contribution to Purchase
53%
Source of Borrower's Contribution
Cash
Deal Summary
First Bridge Lending, a direct private lender, funded a $175,000 1st lien position bridge loan for the acquisition of a single-family home in Ontario, San Bernardino County, CA. We funded 47% of the purchase price, while the Borrower contributed 53% cash at closing. The Borrowers were experienced investors. They plan to list the property for sale at $525,000 upon completion of rehab. This SFR private money loan was funded in July 2019.
Funded By
First Bridge Lending
Direct Lender for California Real Estate Investors | No Appraisal Required