Deal Details
Private Loan Type
Purchase
Approx. Funding Date
02/15/2017
Property Type
Single Family Residence
Property City
El Cerrito
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$1,750,000
Loan-to-Value
60%
Building Square Footage
4,000
Deal Summary
Wilshire Quinn Capital, a portfolio bridge lender, funded a $1,050,000 1st lien position bridge loan for a residential investment property in El Cerrito, CA. The loan allowed the Borrower to purchase an investment property that needed to close quickly. The property is a 4,000-square-foot single-family residence, with four bedrooms, three and a half bathrooms, wrap around decks and views of the San Francisco Bay. The property was appraised for $1,750,000, giving the Wilshire Quinn Income Fund a total loan-to-value of 60% on the transaction. This SFR purchase bridge loan was funded in February 2017.