Featured Loan24-Month Bridge Loan For Listed Property
Loan Amount: $4,500,000
Loan-To-Value: <50% LTV
Term: 24 Months
Situation & Challenge
A builder completed this spectacular home, needed to pay off the construction loan, and wanted to pull cash from the property to go toward the next project. But luxury spec homes sometimes take a while to market and sell.
Solution & Result
First Capital Trust Deeds worked with a private money investment fund to provide a 24-month bridge loan that allowed the borrower to wait for the right offer to come in. The right offer did come in on the property and it sold within a year.