Bridge Loan
Program #LG766
Program #LG766
Summary of all Guidelines | |
| Loan Types | Bridge Loan |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Minnesota, Montana, Nevada, New Jersey, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Loan amount Minimum | $150,000 |
| Loan amount Maximum | $1,500,000 |
| Interest Rate Minimum | 9.25% |
| Terms | 1 year, 18 month, 2 year |
| Fees | Application |
| Lien Position | 1st |
| General Pricing or Guideline info | - 1% Lender Origination Fee (for loan amounts above $150,000; $3,500 for loan amounts between $100,000-$149,000) - Up to 90% of Purchase Price and 100% of Rehab Costs - 75% After Repair LTV - Up to $300,000 on Rehab - No Income or Asset Verification on the majority of deals - No Appraisal Required - Earn up to 3% on Origination - Earn up to 2.5% on Yield Spread (with up to 5 total points available between origination and YSP) - 680 FICO - Close in 10-15 days |
| Updated as of | 2023-05-05 |
- 1% Lender Origination Fee (for loan amounts above $150,000; $3,500 for loan amounts between $100,000-$149,000)
- Up to 90% of Purchase Price and 100% of Rehab Costs
- 75% After Repair LTV
- Up to $300,000 on Rehab
- No Income or Asset Verification on the majority of deals
- No Appraisal Required
- Earn up to 3% on Origination
- Earn up to 2.5% on Yield Spread (with up to 5 total points available between origination and YSP)
- 680 FICO
- Close in 10-15 days
