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Deal Details
Private Loan Type
Residential Rehab
Approx. Funding Date
02/15/2017
Property Type
Condominium
Property City
San Francisco
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Interest Rate
8.75%
Origination Points
1.5%
Deal Summary
SDC Capital, a direct private lender based in Burbank, funded a $1,420,000 loan for the refinance and renovation of a residential condo in San Francisco, CA. Unique to most lenders, SDC funded this loan mid-construction, after investing the time to work closely with our title officer to provide the appropriate coverage to mitigate our risk. The pricing was 8.75% interest only, plus 1.5 point origination fee. This bridge loan was funded in February 2017.
Funded By
SDC Capital
Family Office Lender. No 3rd-party appraisal (typically). Soft Money Terms in 1st or 2nd Lien Position.