Transactional Bridge

‍

When you need to close quickly or want to buy some extra time to finalize your investment strategy, a Bridge Loan is the tool you need. This loan is designed to help you move fast on a purchase or provide a cash out refinance on a property you already own without the headache of conventional and bank financing.

‍

Highlights:

Quick closing

Close in as few as 5 business days to compete with cash buyers.

High leverage

Cash is "King". Leverage your capital with up to 85% LTC on a purchase, 77.5% LTV refinance and 75% LTV cash out.

Best used for:

‍

Use Case: Flippers

- Close quickly and finish your renovation plan later.
- Complete your rehab and buy time to sell the property by refinancing into a bridge.
- Pay for rehab out of pocket.

‍

Use Case: Rental Investors

- Acquire multiple properties at interest-only prices as you prepare for a future portfolio loan.
- Purchase and furnish a property as a short term, vacation or monthly rental before refinancing into a DSCR loan.
- Buy time until rates are favorable for refinancing into a long-term loan.

‍

Use Case: Builders

- Once you complete your model home, you can hold it using a Bridge loan rather than the construction loan.
- Move completed units or phases out of construction loan and buy time to sell or refinance into permanent debt.

‍

‍

Terms & Conditions:

‍

Loan Amounts: $75K - $5M+
Rates: 8.50%-10.50% Interest Only‍
Points: 1.75%‍
LTC: Up to 100% (100% of Purchase, 100% of Rehab)
LTV: Up to 85% Purchase, 80% R/T Refinance, 75% Cash Out.
Term: 6-18 months (w/ extension options)
‍

Geography: Nationwide (except for the following markets: SD, ND, WV)
Property Types: Residential (SFR & 2-4 Unit)
Prepayment Penalty: None, Payoff the loan at anytime
Credit Score: 600 Minimum (Leverage adj. @ <680)

‍