Seattle Funding Group closed this $3,400,000 bridge loan in Rancho Santa Fe, CA.
Some loans are so extraordinary that SFG can provide deal certainty during the first brief phone call, subject to validating representations and the condition of title.
This was such a loan. Everything was as represented, or better, and as a result, Seattle Funding Group was posted up, prepared to wire, and ready to close one week after the LOI was signed…Capital at the Speed of Business.
It ended up taking a total of 12 days, because the bank with the maturing construction loan required extra time to issue the payoff demand, but we are getting ahead of ourselves.
Two new, detached houses in a 3-house development, walkable to the Inn and Village of Rancho Santa Fe, one of San Diego County’s priciest communities – A “10” Location.
Excellent design, finishes and workmanship, with houses that truly meet the market– Terrific Asset.
The two houses are worth almost 3x the loan amount, and the best sales comp was the 3rd house in the development – Exceedingly Low Leverage.