First Capital Trust Deeds secured a cash-out San Diego Balboa Park Private Money Bridge Loan for an investor using the proceeds as a down payment on another multi-unit acquisition.
The 12-month equity-based bridge loan for $460,000 through a trust deed investor from Los Angeles closed in less than one week. The TD investor internally valued the property at just over $1,000,000 so no appraisal was necessary. Just a 5-10 minute site inspection of the property by the lender was required.
12-Month Bridge Loan Terms:
- $460,000 Loan Amount (<50% LTV)
- 10.00% Interest-Only
- 12-Month Term
- No Prepayment Penalty