Bridge Loan
Fix & Flip or Fix to Rent
Program #LG384
Fix & Flip or Fix to Rent
Program #LG384
Summary of all Guidelines | |
| Loan Types | Bridge Loan |
| Property Types | Condo, Multi Family |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $350,000 |
| Points Minimum 1st TD | 1.5 |
| Points Maximum 1st TD | 2 |
| Terms | 1 year |
| Typical Days Required to Fund | 6-10 Business days |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Fees | Processing Fee |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| General Pricing or Guideline info | Why Straightline Funding? ✓ Direct Private Lender ✓ Exclusively Lending to Investors since 2006 ✓ Dedicated Client Portals ✓ Transparent Pricing and Fast Closings - Loan to Cost/Value: Up to 90% LTC and 75% of After Repair Value. - Loan Purpose: Purchase or Refinance. - Loan Term: 12 or 15 months - No Prepayment Penalty or Guaranteed Interest. - No Income Verification. Bank Statements Only. - Property Appraisal: Valuation Required (typically hybrid valuations are used). - Points & Fees: 1.50% to 2.00% plus processing and doc prep. - Time to Fund: 7-10 business days. - Broker Protection: Brokers protected on current and future deals. |
| Updated as of | 2023-12-22 |
Why Straightline Funding?
✓ Direct Private Lender
✓ Exclusively Lending to Investors since 2006 ✓ Dedicated Client Portals
✓ Transparent Pricing and Fast Closings
- Loans to Cost/Value: Up to 90% LTC and 75% of After Repair Value.
- Loans Purpose: Purchase or Refinance.
- Loans Term: 12 or 15 months
- No Prepayment Penalty or Guaranteed Interest.
- No Income Verification. Bank Statements Only.
- Property Appraisal: Valuation Required (typically hybrid valuations are used).
- Points & Fees: 1.50% to 2.00% plus processing and doc prep.
- Time to Fund: 7-10 business days.
- Broker Protection: Brokers protected on current and future deals.
- David Cruise
Loan Department Manager
