This San Francisco private money bridge loan was issued to pay off an original purchase money loan that came due at the one-year maturity date.
Over the past few years, we’ve seen house flipping projects in San Francisco taking longer than the initial 12-month term that our standard fix and flip private money purchase loans are issued with. While some loans can be extended, others may need to be refinanced for a variety of reasons.
Fortunately, the home’s rehab was a finished and FCTD had a Southern California private money fund that could fund the bridge loan with attractive terms for an additional year for the investor.
Private Money Bridge Loan Terms:
- $1,060,000 Loan Amount
- 12-Month Term
- No Prepayment Penalty