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BRIDGE LOANS
BRIDGE LOANS
A Bridge Loan is a short-term loan used to "bridge" the gap between buying a new property and selling an existing one. It's typically used by real estate investors or homeowners who need quick funds to secure a new property before they have the money from selling their current property.
Bridge Loans Explained
Bridge loans provide short-term financing to homeowners and investors who need temporary funds while transitioning between properties. These loans are ideal for covering the gap between the purchase of a new property and the sale of an existing one, offering a flexible solution for borrowers needing immediate capital.
Main Features of Our Bridge Loans
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Short-term duration: Typically between 6 and 12 months, designed to facilitate smooth transitions between properties.
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Fast funding: Quick access to capital allows you to secure a new property without waiting for the sale of your current home.
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Collateral-based: Loan amounts are based on the equity in your current property, giving you access to significant funds while waiting for the sale to close.
Why Choose Our Bridge Loans?
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Seamless Transitions: Use bridge financing to purchase a new property before your current one sells, avoiding the need to rush or settle for lower offers.
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Speedy Approvals: Our streamlined process ensures quick approvals, allowing you to move forward with your property purchase without delays.
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Leverage Equity: Maximize the value of your current home’s equity to secure a new property while waiting for your existing one to sell.
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Flexible Terms: Loan terms are tailored to match the short-term nature of bridge financing, giving you flexibility as you transition between properties.
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Avoid Double Payments: Bridge loans can cover the down payment for your new home, ensuring you don’t have to manage two mortgages simultaneously.
Our bridge loans are the perfect solution for those looking to buy a new property before selling their current one. Whether you're a homeowner upgrading to a new house or an investor expanding your portfolio, our loans provide the flexibility and speed you need to make the transition smoothly.
Qualification Criteria
Determine if You Qualifies for Bridge Loans
Credit Score
Minimum 620 FICO required, with no major derogatory credit events within the last 24 months.
Property Value
Minimum property value of $150,000 to ensure sufficient collateral for the loan.
Loan Term
Short-term duration ranging from 6 to 12 months, designed for flexibility during the transition between properties.
Property Type
Eligible properties include primary residences, second homes, and investment properties. Types of homes covered are single-family homes, 2-4 unit properties, townhomes, and condominiums
Maximum Loan-to-Value (LTV)
Up to 80% LTV based on the equity in the current property, offering substantial financing while waiting for the sale to close​ .
Prepayment Penalty
No prepayment penalties, giving borrowers the flexibility to repay the loan early without extra costs.
Loan Amount
Loan amounts range from $100,000 to $5,000,000, catering to both small and large property transactions.
Location Requirements
Properties must be located in urban or suburban areas with an established housing market. Rural properties are not eligible .
Liquidity Requirements
Borrowers are required to cover closing costs and reserves for 1-3 months, ensuring financial preparedness during the transition​.