Pleasanton, CA

$726,000

Single Family Residence

Purchase

03/12/2020
Transaction by
First Bridge Lending
First Bridge Lending, a direct private lender in Petaluma, funded a private money loan for the purchase of a single family investment property in Pleasanton, California. The borrowers are a married couple in the food industry seeking their first investment property. They located a 2,260 square foot house, with 4 bedrooms and 3 baths, in the Val Vista neighborhood that they felt would make a good rental. They need a short-term bridge loan just to quickly acquire the property. The sale price was $1,210,000. The borrowers put down 40% of the purchase price in cash. First Bridge funded the remaining 60%, a total loan amount of $726,000. The borrowers plan to rent the home for around $4,800/month and refinance with a conventional lender within a few months. Our loan term is 6 months. This private money loan was funded in March 2020.