Bridge Plus – Houston, TX

The Opportunity

A California investor needed to refinance a completed flip that Lima One had financed in Houston, Texas. The investor had worked with Lima One on multiple properties and trusted Lima One to deliver even in the challenging rate and home price appraisal environment of fall 2022.

The investor planned to get long-term financing on this luxury lake-front property but needed to pivot strategies as interest rates continued to rise.

The Solution

Lima One worked with the investor to secure an appraisal that accurately reflected the value created by the recently completed flip. We then worked with the investor to identify that a 24-month bridge loan provided the best combination of security and flexibility in an increasing rate environment.

Because the bridge loan refinanced a Lima One fix and flip loan, the investor benefited from lower origination fees. This interest-only loan gives the investor maximum flexibility and cash flow, and the security of knowing that he can refinance into a Lima One rental loan once interest rates decline.