First Capital Trust Deeds worked with an investor buying a new rental property in Long Beach who used a bridge loan to close out the transaction. With COVID-19, Non-QM rental property financing froze, which made investors look for private money financing to close acquisitions with the intent to refinance into a Non-QM rental property loan when that market comes back when the secondary market returns, which is expected during the summer of 2020.
Private Money Bridge Loan Details
Loan Amount: $300,000
Term: 12 Months