12-Month Bridge Loan for Carmel Valley Condo

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12-Month Bridge Loan for Carmel Valley Condo

First Capital Trust Deeds closed a 12-month hard money bridge loan on a condo in San Diego’s Carmel Valley.

The borrower needed the loan to acquire and stabilize the property by placing a renter in the home. After the tenant is in place and has made two payments, the borrower plans on refinancing the hard money loan into long-term financing by taking out a conventional loan.

12-Month Hard Money Bridge Loan Terms:

  • $277,000 Loan Amount (62% Loan-to-Value)
  • 12-Month Term
  • No Prepayment Penalty
  • Exit Strategy:  Rent the Unit and Refinance into Conventional Mortgage Within 2-3 Months
Do you have a similar financing scenario?
Inquire about your financing options with FCTD.