Short Term/Bridge Programs
Sometimes you need cash quickly from the equity of your income property. You may need some money for another purchase or to fund another project, real estate or otherwise, but are not quite ready to sell the property or place it on a long-term program. For situations such as these, we have “Bridge” program.
It bridges where you are now financially to where you want to be. Usually, the loan term is anywhere from 6 to 24 months. The rates are going to be higher, however you will enjoy a light income documentation (no tax returns) and the no-income document program (no financial information is verified on the borrower) that closes quickly!
- Can be vacant or occupied.
- A higher LTV than hard money options.
- Property can be currently listed and in the middle of rehab – loan is against the As-Is value.
- Great for borrowers who need a quick close.