Purchase Bridge Financing Using Cross-Collateral for SFR in Riverside, California

Funded by SDC Capital

$495,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

11/29/2016

Property Type
Single Family Residence
Property City

Riverside

Property State

CA

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Purchase Price

100%

Interest Rate

8.99%

Origination Points

1%

Deal Highlights

We funded 100% of the purchase price.

Deal Summary

SDC Capital, a direct private lender based in Burbank, funded a $495,000 1st lien position bridge loan for the acquisition of a single-family home in Riverside, CA. Unlike most lenders, we allow for cross-collateralization and provide our Borrower with 100% purchase financing, plus an additional $35,000 to cover closing costs and provide cash-out proceeds to help fund the property’s renovation. Additional collateral for the loan was comprised of junior liens on other investment property. The interest rate was 8.99% and we charged a 1% origination point. This SFR purchase bridge loan was funded in November 2016.

Funded By

SDC Capital

Family Office Lender. No 3rd-party appraisal (typically). Soft Money Terms in 1st or 2nd Lien Position.