A Bay Area real estate investor used hard money purchase and rehab financing secured by First Capital Trust Deeds.
An experienced real estate investor in the Bay Area needed to perform on an option agreement for a property in a great neighborhood in San Francisco. The investor, who has experience managing several projects at the same time, wanted to obtain high-leverage purchase money financing and high-leverage rehab financing.
FCTD secured a $1,545,000, 12-month hard money bridge loan, broken up into two parts. For the acquisition, there would be a 70% loan-to-value (LTV) loan of $1,185,000 and for the construction there would be an additional $360,000 of fund controlled money covering 80% of the project’s rehab costs.
Hard Money Purchase And Rehab Financing:
- $1,545,000 Loan Amount
(70% LTV of Acquisition and 80% of Rehab Costs)
- 12-Month Term
- No Prepayment Penalty