Culver City, CA – $950,000

Purchase Bridge Loan

This client was in the middle of a 30-day escrow for his home purchase when he encountered an income qualification issue. He had taken a special assignment with another company, receiving interim pay on a 1099 form, and was not scheduled to return to his current employer until 90 days after the escrow closed.

Since he was putting 20% down, had excellent credit, and strong reserves, we provided a bridge loan to help him close on his home and avoid losing his deposit, as he had already released contingencies. Shortly after we funded the bridge loan, the client returned to his previous job as planned and refinanced out of our loan in less than four months.