High Leverage Bridge Loan Success Story

We recently closed on a $4.50 million spec purchase with 80% lender financing in the Hollywood Hills. Insignia Mortgage found a hedge fund in New York to provide construction financing with no-income verification for the purchase, which was a teardown with a planned high-end redevelopment. The home and the current owner were in litigation with a neighbor. Further completing the deal, part of the home had been torn down, and the bedroom and kitchen walls had been demolished.

Loan Terms

    • $3.6 million dollar construction loan
    • 12-month term
    • 9.99% APR, plus 2.5% points
    • Interest Only, interest paid only when money drawn
    • No prepayment penalty
    • 17 day close of escrow

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