Bridge Loan
Bridge Loan
Program #LG9
Bridge Loan
Program #LG9
Summary of all Guidelines | |
| Loan Types | Bridge Loan |
| Property Types | 2-4 Units, Mixed use, Multi Family, SFR |
| Lendding Area | alabama, arkansas, colorado, connecticut, d-c, delaware, florida, georgia, indiana, iowa, kansas, kentucky, louisiana, maryland, massachusetts, michigan, mississippi, missouri, nebraska, new-jersey, north-carolina, ohio, oklahoma, pennsylvania, rhode-island, south-carolina, tennessee, texas, virginia, west-virginia, wisconsin |
| Loan amount Minimum | $100,000 |
| Loan amount Maximum | $1,500,000 |
| Terms | 6 month, 9 months, 1 year, 18 month |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Entities | LLC - Limited Liability Corporation, LP - Limited Partnership, Corp - Corporation |
| Lien Position | 1st |
| General Pricing or Guideline info | - Rate/Term: Up to 75% - Property Type: Mixed use (must be >75% residential); 5-10 unit multifamily. - Property Restrictions: Rural or remote properties. - ARV > 250% of area median. - Vacation/resort properties. - Guarantors All owners with management authority or > 20% ownership must sign guarantees. - Background: Bankruptcies- 3 years; Foreclosures- 5 years; No felony convictions. - Purpose: Purchase, rate/term, cash out. - Credit score based on lowest guarantor. - Property Condition: Must be in good condition and ready to sell or rent (C4 and Q5 or better). - Strategy: For sale or transition to long-term. - DSCR: Proforma income must support the property value and exit strategy. Minimum 1.0 DSCR for cash out. - Reserves 6 months interest. - Investment properties only. - Get Pre-Approved in Minutes. ACCELERATE YOUR SUCCESS We know time is money. We'll work hard to close your loan quickly and make the process easy. At each step, our skilled team will help you move fast. |
| Updated as of | 2022-12-06 |
- Rate/Term: Up to 75%
- Property Type: Mixed use (must be >75% residential); 5-10 unit multifamily.
- Property Restrictions: Rural or remote properties.
- ARV > 250% of area median.
- Vacation/resort properties.
- Guarantors All owners with management authority or > 20% ownership must sign guarantees.
- Background: Bankruptcies- 3 years; Foreclosures- 5 years; No felony convictions.
- Purpose: Purchase, rate/term, cash out.
- Credit score based on lowest guarantor.
- Property Condition: Must be in good condition and ready to sell or rent (C4 and Q5 or better).
- Strategy: For sale or transition to long-term.
- DSCR: Proforma income must support the property value and exit strategy. Minimum 1.0 DSCR for cash out.
- Reserves 6 months interest.
- Investment properties only.
- Get Pre-Approved in Minutes.
ACCELERATE YOUR SUCCESS
We know time is money. We'll work hard to close your loan quickly and make the process easy. At each step, our skilled team will help you move fast.
- Molly Knapik
Inside Loan Originator
