Mortgage Equities Inc. provided a bridge loan to a developer for operating capital. The borrower has closed three prior hard money loans with Mortgage Equities Inc.
This bridge loan was on a newly completed home in Kirkland, Washington, which the borrower decided to rent for future sale in order to take advantage of an upwardly trending market. The Borrower built a fabulous, modern home with 5 bedrooms, 2.5 bathrooms on an “in fill” view lot.
The Borrower has a long established career in the real estate industry building both residential and commercial buildings in the Kirkland surrounding areas.