Residential Rental Bridge Loans (1 to 4 Units)
Interim financing when you need a fast close and minimal or no rehab is planned
Non-owner occupied single family homes, duplex, triplex, quads, warrantable condos and townhomes
Fast closing, exterior only valuations
Cash-Out, refinance and purchase up to 80% LTV
Rates as low as 6.75%
Interest only
13, 19 and 24 month term options
No upfront fees, tax returns or income verification
Fast, streamlined funding in 3 to 6 weeks
- Nationwide (primary, secondary and rural)
- Loan amount: $500,000 to $5 million per property
- Portfolio loan amounts : $75,000 to $5 Million per property
- Cash-out or refinance 80% of appraised value @720+ credit (75% @680 to 720; lower LTV @620 to 680)
- Finance 80% of purchase price
- Rent ready vacant properties financed based on market rents
- For cash-outs: no monthly payments due until 4th month after loans close (3 months PITA escrowed)
- 13, 19 and 24 month term options
- 620+ middle FICO credit score
- Origination: varies
- No prepayment penalities or minimum interest
- Close in LLC, corporation or partnership name
- Non-recourse option for experienced clients (add 25-50 bps to rate) with typical bad boy carve-outs
- Must be on less than 2 acres, 700+ square feet per unit and no rehab required
- No bankruptcy, foreclosure, short sales or deed in lieu in last 3 years
- Subordinate debt permitted case-by-case
- Ineligible properties: condotels, mobile homes, timeshares, commercial, mixed-use, manufactured homes, working farms or ranches
- Warrantable condos must be 50% owner occupied, HOA dues 15% max 60 days past due and no more than 20% owned by one person
- In-house loan servicing
- Streamlined underwriting
- Funding in 3 to 6 weeks
To submit your online loan request, please click the blue GET FUNDED Link for your PRE-APPROVAL Term Sheet within 48 business hours. With a few clicks of your mouse it TAKES LESS THAN 6 MINUTES to submit. No upfront fees, tax returns, income verification, credit cards, Social Security Numbers or credit checks required for PRE-APPROVAL.
