Bridge Loan
Self Storage Loans - LG165
Self Storage Loans - LG165
Summary of all Guidelines | |
| Loan Types | Bridge Loan |
| Property Types | Self-Storage |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $200,000 |
| Loan amount Maximum | $20,000,000 |
| Interest Rate Minimum | 8% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 1 |
| Points Maximum 1st TD | 5 |
| Terms | 6 month, 9 months, 1 year, 18 month |
| Interest Only or Amortized | Interest Only |
| Lien Position | 1st |
| General Pricing or Guideline info | - Loan collateralized by real estate – no business only financing - Prefer high traffic metropolitan areas - Loan approvals based on value of real estate rather than borrower credit score and financials - Time to Close 5 - 7 days - Up to 60% LTV and 60% of ARV for rehab, not to exceed 90% of the purchase price. - Loan Term: 3 - 24 months - Lending Areas Nationwide, in metropolitan and coastal areas. |
| Updated as of | 2023-10-09 |
| Program Code | LG165 |
- Loans collateralized by real estate – no business only financing
- Prefer high traffic metropolitan areas
- Loans approvals based on value of real estate rather than borrower credit score and financials
- Time to Close 5 - 7 days
- Up to 60% LTV and 60% of ARV for rehab, not to exceed 90% of the purchase price.
- Loans Term: 3 - 24 months
- Lending Areas Nationwide, in metropolitan and coastal areas.
