This commercial Bridge Loan is unlike any other bridge loan in the country.
Our Private lending group has set aside $10,000,000 monthly for this one of a kind program. It truly is a simple as appraise and close, up to 60% LTV.
Multi-Family (5+ units)
Mixed-Use (apartments & commercial combined)
- Opportunistic acquisitions
- “Quick Close” special situations
- 1031 exchange deadlines
- Cash out for significant renovations
- Refinance with sale flexibility
- Partner buyouts
- Unlimited cash out
- Need to payoff tax liens or other credit damaging issues
- Have a current lender forcing a balloon payoff
- Don’t qualify for traditional bank financing
Asset Based Bridge Loan Parameters
Time to close: 1 week after appraisal is received—typically 14 to 21 days from application
Preferred Loan size: $300,000 to $5,000,000
Loan to Value (LTV): Up to 60% LTV is True Asset Based Loan
Purchase to 75% LTV *
Refinance to 70% LTV *
Documentation: Up to 60% LTV is No Income Verified/ No Income Stated/ No DSCR Calculated
*Above 60.1% LTV to max LTV require limited additional documentation
Loan Term: Up to 36 months.
Credit Score: A 650+ credit score is preferred. Scores down to 550+ are allowed with risk-adjusted pricing. The credit score is one of the factors in determining loan rate. Lending decisions are asset-based, not credit driven.
Interest Rate: Typically 7.99% to 11.99%, interest only. Rate is risk adjusted depending upon collateral, loan size, credit score, market size and loan structure.
Lien Position: First Mortgage or Deed of Trust
Origination Fees: Starting at 1%
- All federal and state tax liens and judgements must be paid through closing.
- All income tax liens and judgements must be paid through closing if they affect title.
- No source of seasoning of down payment.
- Unlimited cash out for business purposes.
- No upfront fees. (Borrower only pays for the appraisal after formal LOI is issued)
- No financials requested. (True asset-based commercial loan up to 60% LTV)
- Lending Area: Nationwide with a preference for city/towns with greater than 25,000+ populations
- Transaction types include purchase and refinance with unlimited cash out.
- Ancillary fees paid at closing: $1,995 underwriting and $495 doc-prep fee.
- Property Condition: Must have minimum deferred maintenance. If property has significant deferred maintenance, may require escrow for renovations.
- No open bankruptcy and all mortgages on credit report must be current at time of submission