Rescuing a Realtor and His Home Buyer
Santa Rosa, California Bridge Loan
A busy Realtor in Sonoma County contacted me to help rescue a frantic client, who was trying to buy a home while her current house was being sold. The home buyer was having difficulty getting loan approval elsewhere because she didn’t make enough income; however, she did have a free and clear home she was selling.
Our Bridge Loan program allowed us to do a $450K loan against her home about to be listed for $1.7million. This became the down payment for her new home and provided enough cash to fix up the home she was listing.
With our help, she was able to write an offer for the new home showing a 40% down payment, no contingency of sale of her existing home, and a 14 day close. The 14 day close distinguished her offer from others and it was easily accepted. I had this Bridge Loan approved and funded in under 2 weeks. We were able to make a happy Realtor and a happy Buyer!
If you or someone you know is having difficulty with loan approval for a purchase or even a refinance, call me at 707-523-2099. I am happy to let you know how I can help with a Hard Money loan.