Bridge Loans

A bridge loan is often used in real estate transactions to provide cash flow during a transitional period, such as when moving from one home into another home. Homeowners can use this type of loan to finance a new home or pay off debt. This is an extremely beneficial option for those who do not want to be a contingent buyer.

Bridge loans roll the mortgages of two houses together, giving the buyer flexibility as they wait for their former house to sell. However, in most cases, lenders only offer real estate bridge loans worth 80% of the combined value of the two properties, meaning that the borrower must have significant home equity in the original property or ample cash savings on hand.

There are also fix-and-flip bridge loans for investors who need the cash flow while they complete their project.

Contact Me To Get Approved

Bridge Loans

Source of funding until you get permanent financing or pay off debt
Typically short-term loans, lasting an average of 6 months to 1 year
They can be used to finance the purchase of a new home before selling your existing house
Takes out a loan against your current home in order to make the down payment on your new home
This form of financing may also be helpful to businesses that need to cover operating expenses while awaiting long-term funding
Some borrowers use the bridge loan as a second mortgage to put toward the down payment on their new home until they can sell their current home.
Other borrowers take out one large loan to pay off the mortgage on their old home. Then, they put the remaining money borrowed toward the down payment on their new home.

Guidelines

No monthly payments
Interest only balloon payment due at time of loan payoff
Bridge loan does NOT reflect against monthly liabilities towards qualifying new home purchase (HOA only reflects against debt.)

Fix-and-Flip Bridge Loan

We fund up to 90% of your deal if you completed 8+ projects in the past 3 years*
We fund up to 85% of your deal if you completed 4-7 projects in the past 3 years (90% considered on a case-by-case basis)*
Quick closing: in as little as 5 days
Minimum $100,000 loan amount
1-10 unit residential investment properties*
No hard credit inquiries