Bridge Loans

For those unfamiliar with Bridge Loans, these are loans that are short-term financing options used to provide immediate financing until a more permanent solution can be secured.  

They are typically taken out for a period of 2 weeks to 18 months as a temporary solution. 

Below is an example of terms and costs:

Standard Bridge Loan Terms 

  • Max Loan Amount: $10,000,000

  • Max LTV (Loan to Value): 70%

  • Rates: Starting at 9.99% 

  • Term of loan: 12-24 months

  • Payments: Monthly Interest Payments with Balloon at Maturity

  • Prepayment penalty: None 

Costs: 

  • Origination Fee: 1-2% 

  • Underwriting Fee: $1,500 

  • Legal: $750 – $1,500 

  • Appraisal Fee: $500-$950 

  • Title Insurance and recording fees: 1% (Approximate)

Property Types: 

  • Condominiums. 

  • Single-family residences. 

  • Two to four units. 

  • Multifamily homes. 

  • Townhouses.

  • Condo-Hotels/

  • Other property types case by case 

Requirements: 

  • Credit Application 

  • Last 2 bank statements (US bank account) 

  • Copy of ID and Borrowing Entity docs 

  • Purchase Contract (If Purchase) 

  • Property Insurance 

Closing Time: 

  • The Usual Time to Close is  5-10 days. 

Because we are a private lender, we can normally secure a loan in a quicker period of time.

As with most loans, once the title work and appraisals are finished, your loan should be ready to close. 

Ready to pre-qualify?

Click here and one of our loan facilitators will get back to you within 48 hours.