Oakland, CA

$328,250

2-4 Units Residential

Refinance

04/09/2015
Transaction by
Security Financial Services
$328,250 bridge loan secured by a duplex in West Oakland, California. The Borrowers owned the property free-and-clear but needed to cash out equity to use as a down-payment for a commercial property purchase. The property was valued at $505,000 so the loan-to-value for this 1st trust deed bridge loan is 65%. Both units are rented to 3rd party tenants at market rates. The Borrowers will work on getting a conventional refinance to pay off this bridge loan within one year.