Bridge Loan
Hard Money - LG249
Hard Money - LG249
Summary of all Guidelines | |
| Loan Types | Bridge Loan |
| Property Types | 2-4 Units, Assisted Living, Automotive, Bar, Condo, Daycare, Industrial, Land Entitled, Land Non-Entitled, Medical Office, Mixed use, Mobile Home Park, Multi Family, Office, Restaurant, Retail, Self-Storage, SFR, Shopping Center, Strip Center, Warehouse |
| Lendding Area | alabama, arizona, california, colorado, georgia, massachusetts, north-carolina, texas, utah |
| Loan amount Minimum | $200,000 |
| Loan amount Maximum | $5,000,000 |
| Terms | 1 year, 18 month |
| Typical Days Required to Fund | 20-30 Business days |
| Credit Score Min | 580 |
| Lien Position | 1st |
| Max Points Charge by Broker | 3 |
| Prepayment Penalty | 1 year |
| Documents needed | Tax Returns - Business - 2 years |
| Intended Occupancy | Tenant, Vacant, Owner Occupied Business Purpose |
| Fixed or Adjustable | Fixed |
| Recourse | Recourse |
| General Pricing or Guideline info | For the loan amount, we can go down to $300,000, but we'd require a 1.20x DSCR on a full commercial underwrite. |
| Updated as of | 2024-02-13 |
| Program Code | LG249 |
For the loan amount, we can go down to $300,000, but we'd require a 1.20x DSCR on a full commercial underwrite.
These descriptions are limited information and meant for general reference purposes.