Bridge Loans
Loan Criteria
Commercial Real Estate /Hard Money Loan Type
Bridge Loan Term:
12-18 Months
Minimum Loan Amount:
$50,000
Minimum Property Value:
$75,000
Maximum Loan Amount:
$2.5 million
LTV:
Up to 85% of purchase
Up to 75% of refinance
Up to 75% of cash out
Minimum FICO Score:
500
Property Type:
Non-Owner Occupied 1-4 Family & Multifamily Real Estate
Condos; Townhouses; 5+ Unit Apartments; Mixed-Use Properties
Pre-Payment Penalty:
None - 1 month
2% prior to month 9
Rates:
Starting at 7.99%
Termination Fee
1% after month 9 on 12 month loan
None on 18 month loan
About
A bridge loan can be used when you are transitioning from one type of loan to another. It is a great if you need to double close or if transitioning from a temporary loan to a permanent loan.