The owner of this Orange County rental property needed an equity-based hard money bridge loan from First Capital Trust Deeds that would last a few months longer than the current lease which was eight months. After the lease ended they would list the property for what was expected to be a quick sale.
From our perspective, and that of the private money lender that funded the loan, this was a simple loan for an experienced borrower. The borrower had a great track record and really only needed an additional year of financing before cashing out on this property that was acquired a year earlier. Everyone, from the borrower to the trust deed investor, benefited by this $315,000 short-term loan at 73% LTV closing in just over one week.
Hard Money Bridge Loan Terms:
- $315,000 Loan Amount (73% LTV)
- 12.000% Interest-Only
- $3,150/Month Payment
- 12-Month Term
- No Prepayment Penalty