Bridge Loan
Simple Bridge Loan
Program #LG341
Simple Bridge Loan
Program #LG341
Summary of all Guidelines | |
| Loan Types | Bridge Loan |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | alabama, florida, georgia, illinois, indiana, missouri, north-carolina, ohio, pennsylvania, south-carolina, tennessee, texas, virginia |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $450,000 |
| Interest Rate Minimum | 11% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 1.5 |
| Points Maximum 1st TD | 2 |
| Terms | 1 year, 18 month |
| Typical Days Required to Fund | 6-10 Business days |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| Intended Occupancy | Tenant |
| General Pricing or Guideline info | What is a Simple Bridge Loan? Simple Bridge Loans are for Investors looking to quickly purchase or refinance 1 to 4 family properties that need little to no rehab. •Perfect for Wholesaling or Wholetailing •Use for cosmetic rehabs funded out of pocket. Avoid ARV appraisals, draw fees, and wasted time •Quickly close on rental properties you plan to refinance after minor repairs and tenant placement (BRRRR) •Get cash out of a property you already own or refinance your existing loan Simple Bridge Program Summary All Levels of Investors Welcome •Rates: 11% to 12% •12 to 18 Month Terms •Interest Only Payments •Up to 85% of Purchase •Up to 75% of AS IS Value •Simple Bridge Loans Available in Metro areas of AL, FL, GA, IL, IN, MO, NC, OH, PA, SC, TN, TX & VA •Points: 1.50% to 2.00% •1 to 4 Family Properties •No Tax Returns Required •No Prepayment Penalties •680 Minimim Credit Score •5-10 Business Day Close •Purchase or Refinance •Cash Out OK |
| Updated as of | 2023-11-16 |
What is a Simple Bridge Loans?
Simple Bridge Loanss are for Investors looking to quickly purchase or refinance 1 to 4 family properties that need little to no rehab.
•Perfect for Wholesaling or Wholetailing
•Use for cosmetic rehabs funded out of pocket. Avoid ARV appraisals, draw fees, and wasted time
•Quickly close on rental properties you plan to refinance after minor repairs and tenant placement (BRRRR)
•Get cash out of a property you already own or refinance your existing loan
Simple Bridge
Program Summary
All Levels of Investors Welcome
•Rates: 11% to 12%
•12 to 18 Month Terms
•Interest Only Payments
•Up to 85% of Purchase
•Up to 75% of AS IS Value
•Simple Bridge Loanss Available in Metro areas of AL, FL, GA, IL, IN, MO, NC, OH, PA, SC, TN, TX & VA
•Points: 1.50% to 2.00%
•1 to 4 Family Properties
•No Tax Returns Required
•No Prepayment Penalties
•680 Minimim Credit Score
•5-10 Business Day Close
•Purchase or Refinance
•Cash Out OK
- David Cruise
Loan Department Manager
