Loans to
Bridge Loans
Location: Santa Cruz, CA
Funded: $1,455,000
Private Loan Type: Purchase Bridge
Deal Highlights:
Deal Summary:
Our borrower identified a new investment property with multiple offers and the need for a quick close. They wanted to use the equity in two existing free and clear investment properties along with the new property to cover 100% of the purchase price. We structure our bridge loans with a partial release clause allowing the sale of the existing properties, and partial payoff of our lien with the remaining balance secured by the newly acquired property. The entire balance was repaid in phases as the existing properties were sold a few months later.
Deal Details:
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HCS Equity is a private money lender based in Carmel, California, specialized in loans for trust & estate property.
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