Deal Details
Private Loan Type
Purchase
Approx. Funding Date
08/16/2022
Property Type
Property City
Roseville
Property State
CA
Loan Term (months)
12
Lien Type
1st Mortgage
Purchase Price
$565,000
Source of Borrower's Contribution
Equity in Another Property
Property Condition
Newly Renovated
Building Square Footage
2,657
Exit Strategy
Sale
Borrower Credit Rating
Good
Interest Rate
9.99%
Deal Summary
Cityscape Finance, a direct private lending firm, funded a $565,000 bridge loan for the purchase of a home in Roseville, the largest city in Placer County, California located within the Sacramento metropolitan area. The subject property was built in 2005 and is approximately 2,657 square feet. The purchase price in 1st lien position was $565,000. The Borrower used equity in one house so they did not need to bring any cash to closing. The interest rate was 9.99%. The Borrower had real estate experience and good credit. This Roseville two-story home was recently renovated and had a three-car garage. The Borrower plans to sell the property within the 12-month loan term. This residential property bridge loan was funded in August 2022.