Case StudyListed for Sale - $200,000 Bridge Loan in Agoura Hills
Loan Amount: $200,000
Loan-To-Value: 60% LTV
Situation & Challenge
The owner of a rental condo in Agoura Hills wanted to tap into the equity in the property to make upgrades before listing for sale.
The only challenge was that this had been an on-again, off-again rental and primary residence. At present, it was being vacated by the owner, who had recently lived in the unit.
Solution & Result
First Capital Trust Deeds worked with a fund in San Diego that wrote the loan as a consumer purpose loan since the owner had up until recently lived in the property after many years renting the unit out.
The $200,000 bridge loan closed and within a week, the owner received a full-price offer through their realtor prior to the home hitting the market.