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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
10/18/2022
Property Type
Property City
Cypress
Property State
CA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$1,250,000
Loan-to-Value
70%
Location Type
Urban
Property Condition
Good
Occupancy at Closing
Tenant-Occupied
Building Square Footage
1,000
Lot Square Footage
7,500
Borrower's Plan
Continue Rental
Deal Summary
Cityscape Finance, a direct private lending firm, funded an $875,000 bridge loan secured by a single-family rental home in Cypress, Orange County, CA. The subject property’s value was approximately $1,250,000 so the loan-to-value for our first mortgage was 70%. The loan term was set at 12 months with interest-only payments. The house is approximately 1,000 square feet and is in good condition. It sits on a 7,500-square-foot lot. It has two bedrooms and a newly remodeled private backyard with many upgrades. The home is located near Kennedy High School which is a highly-rated school in the area. This refinance bridge loan was funded in October 2022.
Funded By
Cityscape Finance, LLC
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