Featured LoanVacation Rental Financing on the Oregon Coast
Loan Amount: $250,000
Loan-To-Value: 55% LTV
Situation & Challenge
An investor with a maturing private money purchase loan coming due needed an additional 12-month term on his loan. The investor fully renovated this Newport, Oregon vacation rental but needed the additional time to cover the longer marketing period of Oregon Coast real estate.
Solution & Result
First Capital Trust Deeds secured a lower priced 12-month bridge loan with 6-month interest reserve to make the first six payments.
The listed vacation rental sold within six months. FCTD’s borrower client did well with a well-structured bridge loan while the trust deed investor received six payments on a relatively safe bridge loan.