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Straightline Funding

Bridge Loan
Simple Bridge Loan - LG341

Straightline Funding

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

These descriptions are limited information and meant for general reference purposes.