Torrington Connecticut Stabilized Bridge Loan
Address: Torrington, CT
Borrower Profile: First Time Borrower — Part-time Real Estate Investor
Work Description: No Renovation — Stabilized Property
Purchase Price: $295,000
Renovation Budget: $0
Loan Amount: $171,000
Cash Available for Purchase: $171,000
Cash Available for Renovation: $0
Loan Structure: 24 months interest only
Loan Purpose: Stabilized Bridge Refinance
ARV: $310,000 (As-Is)
![Connecticut Hard Money Lender](https://cdn.abl1.net/wp-content/uploads/2024/02/front-torrington-ct-.png)
![Torrington Hard Money](https://cdn.abl1.net/wp-content/uploads/2024/02/back-torrington-ct-.png)
Situation:
Asset Based Lending recently funded a stabilized bridge loan to a first-time borrower and part-time real estate investor in Torrington Connecticut. This borrower purchased in 2019 and has since performed renovations on this property. The borrower’s intention is to refinance the property into a 30-year DSCR loan, but their credit score came in lower than expected. As a solution the borrower is using a stabilized bridge loan to cash out the equity on the property and use the funds to put themselves in a better position to refinance into a DSCR loan in the future.
![Connecticut Stabilized Bridge Loan](https://cdn.abl1.net/wp-content/uploads/2024/02/living-torrington-ct-.png)
![Torrington Real Estate Investing](https://cdn.abl1.net/wp-content/uploads/2024/02/bed-torrington-ct-.png)
![CT Real Estate Investing](https://cdn.abl1.net/wp-content/uploads/2024/02/kitchen-torrington-ct-.png)
![Torrington Stabilized Bridge Loan](https://cdn.abl1.net/wp-content/uploads/2024/02/bath-torrington-ct-.png)
Get Started
![prequalify-icon](https://cdn.abl1.net/wp-content/uploads/2021/10/prequalify-icon.png)
![call-us-icon](https://cdn.abl1.net/wp-content/uploads/2021/10/call-us-icon.png)
![email-us-icon](https://cdn.abl1.net/wp-content/uploads/2021/10/email-us-icon.png)