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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
11/05/2019
Property Type
Property City
Edwards
Property State
CO
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Purchase Price
70%
Borrower's Contribution to Purchase
30%
Source of Borrower's Contribution
Cash
Deal Summary
American Heritage Lending, a hard money lender, funded a $168,000 1st lien position bridge loan for the acquisition of a single-family residence in Edwards, CO. The client came referred to us to help him finance his short-term rental portfolio. We funded 70% of the purchase while the Borrwer contributed 30% cash at closing. The client was able to close this transaction during his 45-day escrow without extensions. This property is located in a golf course community and minutes away from Beaver Creek and Vail ski resorts. It is in a very prestigious neighborhood. This SFR bridge loan was funded in November 2019.
Funded By
American Heritage Lending
Direct Lender for Residential Real Estate Investors Nationwide