Bridge Loan
Hard Money
Program #LG249
Hard Money
Program #LG249
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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 |
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.- Ed Ainbinder
EVP, National Production Manager