First Capital Trust Deeds secured a $1,750,000 private money bridge loan for a California office building purchased by an investor. The buyer used the bridge loan to make the acquisition and planned on refinancing into a bank loan within 6-8 months after the building became stabilized and fully rented.
We frequently see these scenarios where buyers use private money bridge loans to acquire a building then work with their bank later on long-term permanent financing. Private money loans make it easy to close on-time with the limited documentation requirements which gives real estate investors time to get their taxes filed or their building fully rented before going to the bank for a lower-priced long-term loan.
Private Money Bridge Loan Terms:
- $1,750,000 Loan Amount
- 10.00% Interest-Only
- 12-Month Term
- No Prepayment Penalty