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Bridge Loans

Bridge loans are typically short-term loans used as an option when conventional financing is not possible.

Description

Bridge loans are typically short-term loans used as an option when conventional financing is not possible. It is an excellent way to get funds very quickly, and it is a flexible financing option for borrowers looking for short-term real estate financing solutions.

These loans can be requested to acquire or refinance multifamily properties, retail, office, hospitality, mixed-use, single-family homes, and for improvements or renovations in a property.

Eligible Properties

Office, Industrial, Hospitality, Retail, Multifamily, Mixed-Use Property, Land

Features

  1. Loan Amount: $100,000-$50M
  2. Maximum Loan To Value: Up to 75%
  3. Term Length: 1-3 years
  4. Amortization: Interest only
  5. Interest Rate: 8.5% – 14%
  6. Non-Recourse: Yes

Advantages

  1. Quick closing
  2. Flexibility
  3. Available for many uses
  4. Payments may be interest-only
  5. Little documentation

Disadvantages

  1. Higher interest rates and fees
  2. Short-term
Lending programs

How To Qualify

  • Credit score > 550
  • Plan for take-out loan
  • Down payment 20% or greater

Required Documents

  • Loan application form
  • Personal financial statement
  • Bank statements (3 months)
  • Purchase
  • Valid purchase contract
  • Refinance
  • Payoff demand or mortgage statement
  • If property requires rehab
  • Rehab bid/itemized list of work with associated costs
  • If property is currently leased
  • Executed lease agreement(s)
  • Rent roll and P&L Statement (if multi-unit)
  • If it’s a repositioning, a three-year pro-forma will need to be provided

Get Started
Bridge Loans

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