Featured LoanOffice Building Private Money Bridge Loan
Loan Amount: $1,750,000
Loan-To-Value: 60% LTV
Situation & Challenge
A real estate investor wanted to complete the sale of this office building in California using a private money loan. This was a straight forward situation where the buyer needed to close quickly with private money and would refinance within a year into bank financing.
Solution & Result
First Capital Trust Deeds provided a 12-month private money bridge loan that didn’t require an appraisal or site inspection, which increased the speed of closing. The buyer closed quickly and refinanced into long-term financing six months later.