Purchase Bridge Loan for Multifamily Property in San Francisco, California

Funded by Redwood Mortgage

$800,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

06/29/2018

Property Type
Multifamily
Property City

San Francisco

Property State

CA

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Value

30%

Number of Units

3

Deal Summary

Redwood Mortgage, a direct private money lender headquartered in the Bay Area, funded a $800,000 1st lien position bridge loan for the acquisition of a multifamily property in San Francisco, California. The Borrower needed to cash out of their multi-unit property to do renovations. The property had 3 vacant units. The compensating factor was low loan-to-value and overall income. The loan-to-value was 30%. This purchase bridge loan was funded in June 2018.

Funded By

Redwood Mortgage

In business for over 40 years. Lending in California Coastal Metro Areas.