A bridge loan is defined as a short-term real estate loan that gives the property owner time to complete some task – such as improving the property, finding a new tenant or replacing a loan that has a balloon payment due. A bridge loan also enables you to take advantage of a purchase opportunity that can’t wait for a permanent loan to be put in place.
Due to the short-term nature of this type of loan, typically there is no prepayment penalty.
Our Offering
Loan Size
$500,000 – $5,000,000
$500,000 – $2,000,000 (stated income or lite doc)
Loan Terms
1 to 3 year primary term with options to extend up to 5 years.
Property Types
Multifamily, Mixed-Use, Retail, Office, Light Industrial, Warehouse, and Hospitality.
Amortization
Interest-only
Owner-Occupied Properties
Allowed subject to minimum credit requirements
Fees
3%-4% origination fee. 1%+ exit fee.
Loan Purpose
Acquisition, Refinance
Loan-to Value
Up to 80%
Security
First Mortgage Liens
Recourse
Non-recourse to Principals with exceptions on case-by-case basis.
Interest Rates
Floating Interest only starting at LIBOR + 500