Bespoke Bridge Loans: Flexible Financing Solutions for Your Real Estate Ventures
What is a BRIDGE LOANS?
Purchase, Refinance or Cash out
Bridge loan is a short-term loan that's ideal for situations requiring immediate and creative solutions, such as when you need to close a deal quickly or when your project isn't ready for conventional financing.
It's called a bridge loan because it serves as a bridge between one financing period and another, while you wait to sell or secure long-term financing.
At Equity Lending Solutions, we offer faster financing with excellent terms. Simplified loans, amplified profits.
What is a BRIDGE LOANS?
Purchase, Refinance or Cash out
Bridge loan is a short-term loan that's ideal for situations requiring immediate and creative solutions, such as when you need to close a deal quickly or when your project isn't ready for conventional financing.
It's called a bridge loan because it serves as a bridge between one financing period and another, while you wait to sell or secure long-term financing.
At Equity Lending Solutions, we offer faster financing with excellent terms. Simplified loans, amplified profits.
Bridge Loan Terms
PROPERTY TYPE
Single Family: Homes with 1-4 Units / Condos
Multi Family: 5 – 24 units
Loan Amount
UP TO US$ 5.000.000 (Loan amount above US $5M subject to longer approval time and additional requirements)
TYPE OF LOAN
Interest only short term loan with a balloon payment at maturity.
PURCHASE
75%
REFINANCE
70%
CASH OUT
65%
Term Length
Up to 18 months + 6 months extension
BASE RATE
9.5% (Interest Only payments)
MINIMUM FICO SCORE
700
PREPAYMENT PENALTIES
NO PREPAYMENT PENALTIES 10-14 DAYS CLOSINGS
FOREIGN NATIONALS ACCEPTED
+ 0.25 to base rate
REQUIREMENTS
- 3 months of bank statements
- ID, passport, (US visa for foreign nationals)
- Entity Documents (LLC or Corp), EIN & OP Agreement
- Rehab budget (if applicable)
- 6 months liquidity/reserves
- Non-owner occupancy certification
- SSN for credit report and background check
- Evidence of insurance (full replacement + 500K liability)& builder’s risk insurance (if applicable)
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FAQ
What exactly is a bridge loan?
A bridge loan is a short-term financing option that is used to bridge the gap until a more permanent financial arrangement can be secured.
In which scenarios is a bridge loan most appropriate?
It’s ideal for situations like buying a new residence before the sale of the current one, funding projects while awaiting a long-term loan approval or seizing short-term investment ventures, to name a few.
Is collateral necessary for a bridge loan?
Absolutely. To secure a bridge loan, you must provide collateral, typically real estate or land.
Can I settle my bridge loan ahead of schedule without incurring extra charges?
Certainly! At Equity Lending Solutions, we don’t impose any penalties for settling your loan ahead of its due date.
Can I consider refinancing my bridge loan?
Indeed, in specific situations, you can refinance your bridge loan either with a similar product or with a more extended financial solution.
What if the asset I intend to offload (e.g., my residence) is sold after the bridge loan's due date?
At Equity Lending Solutions, we recommend reaching out to us a month before your loan’s expiration. We’ll guide you through the best alternatives, which might involve prolonging your current loan or opting for a different financing solution.
