Two-Day Close For SFR Bridge Loan in Gardnerville, Nevada

Funded by Arch Loans

$350,000

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 Highlights

Borrower came to us after his then go-to lender was presumably short on capital.
Everything from underwriting to funding was accomplished within two days, saving the closing.
No appraisal was required.

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.

Funded By

Arch Loans

Low and High Leverage Options, up to 90% of purchase price for fix & flip