BRIDGE LOAN
SINGLE FAMILY
Short Term
Purchase, Refinance
or Cash out
For situations that need immediate and creative options, when you need to close quickly, or your project is not quite ready for conventional financing these short tearm loans can be used as a bridge while waiting to sell or obtaining long-term financing. We can get you financed faster, with great terms.
Bridge Loan Single Family Terms
PROPERTY TYPE
Homes with 1-4 Units / Condos
Loan Amount
100,000.00 to 3,000,000.00 ( up to 10,000,000.00 subject to longer approval time)
TYPE OF LOAN
Short Term Loan with Interest only payments with ballon payment at maturity
MAXIMUM LOAN TO COST
N/A
MAXIMUM LOAN TO ARV
N/A
MAXIMUM LOAN TO VALUE
- PURCHASE: 70%
- REFINANCE: 65%
- CASHOUT: 60%
Term Length
Up to 18 months + 6 months extension
BASE RATE
10% (Interest Only payments )
MINIMUM FICO SCORE
700
PREPAYMENT PENALTIES
NO PREPAYMENT PENALTIES
FOREIGN NATIONALS
ACCEPTED + 0.25 to base rate
REQUIREMENTS
- Entity Documents (LLC or Corp)
- Property Tax Bill
- Evidence of Insurance
- Non Owner Occupancy Certification
- SSN for credit Report and background check
- 6 Month Liquidity / Reserves