New Portfolio “Loan-to-Purchase” Lender out of Los Angeles California

We have a new Portfolio Lender here in Southern California specializing in Bridge Loans. We have funded 3 loans with them so far and they have done it with the utmost reliability and integrity. Their lending philosophy is to provide make sense lending in a market of impractical and stringent guidelines.

We recently funded a 78% LTP, Loan-to-Purchase loan in Florida for a Single Family Residence Investment property on a home that sold for $589,000. A typical Bridge Loan lender would only offer 65% Loan-to-Value for a maximum loan amount of only $382,850. The problem was the buyer needed $465,000. This unconventional Bridge Loan lender offers a loan program that will go to 79% of the purchase price. Problem solved. The property was a 5200 square foot, 5 bedroom, 4 bath home on 2.3 acres. Lease was signed before the loan closed and is now occupied by a very happy renter. I know she’s happy because she called me numerous times throughout the 9 day escrow process asking status.

Working with a Portfolio Lender can sometimes be a little nerve racking, especially when our reputation is predicated on their performance. What we’ve learned is we now have a new Bridge Loan lender that we can feel good about as we maintain our network of reliable lenders and straightforward underwriters. Happy borrowers. Happy lenders. Happy renters. Happy me.

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