Bridge Loan
Residential (1-4 Family), Bridge Loan - LG333
Residential (1-4 Family), Bridge Loan - LG333
Summary of all Guidelines | |
| Loan Types | Bridge Loan |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $2,000,000 |
| Interest Rate Minimum | 10.5% |
| Interest Rate Maximum | 14% |
| Terms | 1 year, 2 year |
| Credit Score Min | 650 |
| Interest Only or Amortized | Interest Only |
| Entities | Corp - Corporation, LLC - Limited Liability Corporation, LP - Limited Partnership, Trust, Foreign Nationals |
| Extensions Available | Yes |
| Cross Collateralize Blanket | Yes |
| Lien Position | 1st |
| Prepayment Penalty | 6 months |
| Documents needed | Bank Statements - Business Account - 1 month |
| Recourse | Recourse |
| General Pricing or Guideline info | Lien: First Lien Mortgage Loan type: Business Purpose Interest reserves: Required for certain loans as set forth in Borrower Liquidity section below Full Recourse Minimum Loan size: Single Family/Condo: $50,000 funded loan amount at loan acquisition 2-4 Family: $75,000 funded loan amount at loan acquisition Maximum Loan Size: $2.0 million ($7.5 million in cases approved by Loan Lender). Amortization: Interest Only Prepayment: Up to 6 months of prepayment penalties are permitted Eligible property types include the following: •1-4 Family Underwriting Matrix •Single-family residences •2-4 family residences •Condominiums •Townhomes |
| Updated as of | 2023-11-14 |
| Program Code | LG333 |
Lien: First Lien Mortgage
Loans type: Business Purpose
Interest reserves: Required for certain loans as set forth in Borrower Liquidity section below
Full Recourse
Minimum Loans size: Single Family/Condo: $50,000 funded loan amount at loan acquisition 2-4 Family: $75,000 funded loan amount at loan acquisition
Maximum Loans Size: $2.0 million ($7.5 million in cases approved by Loans Lender).
Amortization: Interest Only
Prepayment: Up to 6 months of prepayment penalties are permitted
Eligible property types include the following:
•1-4 Family Underwriting Matrix
•Single-family residences
•2-4 family residences
•Condominiums
•Townhomes
