Residential and Commercial Bridge Loans for Business Purpose
Coastal Capital is a direct private money lender performing asset-based lending on a large variety of residential, commercial, and industrial properties throughout California for the benefit of a diverse group of borrowers. We routinely assist borrowers who are individuals, corporation, limited liability companies, trusts, estates, probates, foreign nationals, as well as other types of borrowers who do not meet the very strict underwriting guidelines of traditional or conventional lenders. Since we are a direct lender, we have our own underwriting guidelines and standards which translates into a quick, fast and efficient process to approve your loan and get it funded fast! In loan transactions, our focus is on the current value of the property, the purpose of the loan and your ability to repay the loan. We are honest, efficient and reliable, and our 35 years of success in this business is testament to our commitment to our clients.
Private money loans for real estate purchases or refinances. A business purpose loan includes loans to acquire, maintain, or improve residential or commercial properties not for the personal borrowers residence. The loan must be for non-owner occupied or for a business purpose.
Loan Program Highlights
- Loan Amounts: $50,000 to $500,000
- Origination Fees: 1 to 3 points with a minimum of $2000
- Serving Location: State of California only
- Purpose: Business Purpose and Investment Purpose only
- Types: SFR, SFR Rentals, Multifamily, SFR Additions For Non Owner Occupied Uses, Light Commercial & Retail, Land.
- Fix Loan Term: 6 months to 24 months
- Rates: from 10% up to 15%
- Loan to Value: 65% without exceptions, higher available
- Loan to Cost: Up to 80% with hold back for exceptions
- No minimum credit score. Low FICO credit score okay
