Flexible short-term bridge loan for investors to purchase or refinance a non-owner-occupied property based on its current value.
Bridge Loan Features
Loan Amounts | | $50,000-$500,000 | | | | | |
Interest Rates | | As low as 11% interest-only, monthly payments | | | | | |
Origination Fee | | As low as 2% of loan amount, payable at closing | | | | | |
Term | | 6-12 Months, options to extend | | | | | |
Pre-Payment Penalty | | None | | | | | |
Extension Fee | | 1% fee per 60-day extension, 1.5% fee per 120-day | | | | | |
Property Types | | Non-Owner Occupied: – Single Family Residence (SFR) – Townhouses – Condominium (excluding condotels) – Planned Unit Development (PUD) | | | | | |
Loan-To-Cost (LTC) | | Up to 80% Purchase Price | | | | | |
Rehab/Construction | | If Needed Learn More On Fix and Flip Loans | | | | | |
Loan-To-Value (LTV) | | Up to 70% | | | | | |
Recourse | | Full Recourse | | | | | |
Borrower Qualifications
Credit Score | 620+ |
Experience | 2+ exits within 12 months |
Borrower Type | Entity |
Bank Statements | Last 2 months |
Lender Specific Closing Costs
Underwriting Fee | $499 (paid at closing) |
Wires/ACH | $30/$10 each |
Excludes title, insurance, legal, etc.