First Bridge Lending

About First Bridge Lending

First Bridge Lending is a private real estate lender with offices in both Northern and Southern California, in Petaluma and in Orange County. They offer loans throughout the State of California. Their loans are for first trust deeds only. Their rates and terms are flexible, but their typical loans range between $100,000 and $10,000,000 with note maturities typically ranging between 6 and 24 months. Their maximum loan-to-value is 70% and they will loan up to 65% of the total project cost. They will make loans on multiple property types, including single family homes, multi-family homes, apartment buildings, industrial, and commercial. Loans can close in as little as three business days.

Loan Types Offered: Hard Money Loans, Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Mixed Use, Industrial

Areas Served: CA

Licenses: CA Dept of Corporations CFL # 60DBO-77543, CA BRE under FJM Capital, Inc. #01918610 DBA First Bridge Lending NMLS #958346

Lending Guidelines for First Bridge Lending

Below are the general loan guidelines published on the First Bridge Lending website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by First Bridge Lending.

Loan Example 1

First Bridge Lending issues a loan to Latonya for a rehab project in Los Angeles, CA, on a house that is listed for $370,000. The terms of the note include a 85% loan-to-value (LTV), so she must bring 15% of the price as cash at closing, which makes the principle note amount $314,500. The deal also has these features: 1) a 6 month term, 2) a 13% interest-only note, and 3) a two percent origination charge.

In addition to paying the $6,290 origination fee, Latonya will also fund $55,500 of the purchase with her own funds, or 15% of the purchase price. After the deal closes, she will need to pay the lender $3,407 in monthly interest payments, or 13% multiplied by $314,500 divided by 12 months in the year. Latonya's intention is to finish the remodel within the 6 months and sell it for $518,000. If she succeeds she will collect a profit of $121,268 ($518,000 price - $314,500 principle amount - $55,500 down payment - $6,290 origination fee - $20,443 in total interest payments.

Loan Example 2

First Bridge Lending makes a private money loan to Leslie for a remodeling project in Los Angeles, CA. The deal dictates the following:

$390,000 purchase price
80% loan to value (LTV)
12 month term
10% interest rate
4% origination fee

If Leslie achieves his goal of a $546,000 sales price, the final numbers of the project would be as follows:

$546,000 sales price
- $312,000 principle on note (80% LTV)
- $78,000 down payment (20% on 80% LTV)
- $12,480 origination fee (4% of the $312,000 principle)
- $31,200 total interest paid (12 months x 10% interest)
-----------------------
= $112,320 gross profit (doesn't include taxes or rehab costs)

No Reviews Yet

First Bridge Lending currently has no reviews. To add a review now, click the link below:

Write a Review for First Bridge Lending