Bridge Loan
- LG261
- LG261
Summary of all Guidelines | |
| Loan Types | Bridge Loan |
| Property Types | 2-4 Units, Mixed use, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $100,000 |
| Loan amount Maximum | $75,000,000 |
| Terms | 6 month, 9 months, 1 year |
| Credit Score Min | 620 |
| Interest Only or Amortized | Interest Only |
| Entities | LLC - Limited Liability Corporation, LP - Limited Partnership, Corp - Corporation |
| Lien Position | 1st |
| General Pricing or Guideline info | - All properties are required to have a full conforming appraisal. - Minimum Experience: Similar project within the last 3 years. - Bankruptcy: Not within the last 4 years and no other derogatory payments. - No amortizing loans permitted. - Loan Purpose: Value Add, Purchase, and Cash-Out Refinance. - Liquidity Requirements: 3 months of interest payments + portion of the rehab loan not funded in the loan. - Max Term: 24 months + up to two 6 months extensions. - ARV: 70% |
| Updated as of | 2023-11-10 |
| Program Code | LG261 |
- All properties are required to have a full conforming appraisal.
- Minimum Experience: Similar project within the last 3 years.
- Bankruptcy: Not within the last 4 years and no other derogatory payments.
- No amortizing loans permitted.
- Loans Purpose: Value Add, Purchase, and Cash-Out Refinance.
- Liquidity Requirements: 3 months of interest payments + portion of the rehab loan not funded in the loan.
- Max Term: 24 months + up to two 6 months extensions.
- ARV: 70%
