Bridge Financing for Property, Projects & Rehabs
Many investors, commercial property owners, estates, trusts, a builder/developers require short term loans secured by real estate.
- Immediate funding for a time sensitive transaction
- Use equity from existing real estate to fund another investment
- Bridge time frame, allowing the borrower the opportunity to solve a problem
- Meet a tax obligation
- Restructure or refinance maturing debt
- Buyout of a partner’s equity interest
A hard money bridge loan can provide time for your property, project, or rehab to qualify for permanent financing.
Improved and unimproved property can be pledged as security for a bridge loan.
Bridge Loan Guidelines
|Lending area:||Washington, Oregon, Idaho|
|Amounts:||$75,000 to $3,000,000|
|Term:||6 months to 3 years|
|Rates and Fees:||Negotiable- Depends on term, amount, loan-to-value ratio, and collateral.|
|Appraisal:||Typically not required|
|Title insurance:||ALTA Extended Title Coverage is required.|
Improved property – all types of improved property considered.
Unimproved property – 50% LTV.
First lien on all property types with possible exception for apartment buildings.
|Interest reserve:||Construction loans include an interest reserve.|
|Exit plan:||Borrower must have a viable exit plan to payoff the loan at maturity.|
Looking for a longer term mortgage? Try our Permanent Investment Real Estate Loans