San Leandro, CA

$440,000

Single Family Residence

Purchase

05/11/2020
Transaction by
First Bridge Lending
First Bridge Lending, a direct private lender, funded a hard money loan for the purchase of a single family investment property in San Leandro, California. The borrower is a project manager for a construction firm who was looking to purchase his first investment property to rent. He needed a short-term hard money loan just to quickly acquire the property. The sale price was $800,000. The borrowers put down 45% of the purchase price in cash. First Bridge funded the remaining 55%, a total loan amount of $440,000. The borrower plans to rent the 3-bedroom home for around $3,500/month and refinance with a conventional lender within the 12-month loan term. This hard money loan was funded in May 2020.