Deal Details
Private Loan Type
Purchase
Approx. Funding Date
10/21/2019
Property Type
Single Family Residence
Property City
Gardnerville
Property State
NV
Lien Type
1st Mortgage
Payment Type
Interest Only
Deal Summary
Arch Bridge Loans, a private lender, funded a $350,000 1st lien position loan for the purchase of a single-family residence in Gardnerville, NV. This Borrower came to us after his then go-to lender was presumably short on capital. Fearful that the seller would drop the deal, he approached Arch Bridge Loans and everything from underwriting to funding was accomplished within two days, saving the closing. No appraisal was required, ensuring that the deal would be funded in time with the use of a simple, quick BPO. This SFR purchase bridge loan was funded in October 2019.