Featured Loan

COVID-19 Delayed Non-QM Loan Switched to Hard Money Bridge Loan

Loan Details

Loan Amount:  $300,000

Loan-To-Value:  60% LTV

Term:  3-Year

Situation & Challenge

As the secondary loan market where Non-QM lenders sell their loans came to a halt mid-March, this rental property loan, which was ready for docs to be signed, had to be switch from a 3-year loan to an 18-month hard money bridge loan.

Solution & Result

Fortunately, over the years, FCTD has developed a large network of lending sources to place Non-QM loans, which as you can see has dried up, and hard money loans. Since the owner of this property had extensive real estate experience, FCTD was able to switch from the Non-QM lender to a hard money trust deed investor familiar with the property in Portland.

Do you have a similar financing scenario?
Inquire about your financing options with FCTD.