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  • Writer's pictureStephen Sinko

Section 10 Bridge Loan

Updated: Apr 18, 2023

Property Address: Montessouri St. Las Vegas, NV 89117

Residential / Building Area: County Records show this to be 3,458 sq foot / 3-bedroom 2.5 bath two story home located just north of section 10. This home has a 2-car garage, large backyard with BBQ & deep swimming pool and built on .48 acres

Loan Amount: $560,000.00

Borrowers Estimated Value: $655,000.00

Loan to Value: 85% of PURCHASE CONTRACT

ARV: $1,200,000

Loan Term: 12 Months (I.O.) – 3 month guarantee payments

Use of Funds: Purchase Money 1st Mortgage

Exit Strategy: Considering short term rental. Refinance or SALE

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