If the Loan-to-Value (LTV) is only 16%, chances are the owner occupied private money bridge loan will close relatively easy. One exception to that easy closing “rule” is if the property is owner occupied and the borrower needs to provide income documentation proving the ability to repay.
Luckily, the borrower of this Southern California owner occupied property had a very low LTV and could also prove the ability to repay so the $400,000 loan closed easily.
Owner Occupied Private Money Bridge Loan Terms:
- $400,000 Loan Amount
- 10.00% Interest-Only
- $3,333/Month Payment
- 12-Month Term
- No Prepayment Penalty