Speed is our competitive advantage…only one approval signature needed!
What Are Bridge Loans?
- You have not sold your existing home but have found your Dream Home and you need money fast. Traditional bank financing is generally not an option because your current home is listed.
- You want to buy an investment property but don’t quite have enough money and traditional bank financing is not available and you want to close quickly.
- You applied for a loan with another lender and the loan dollars were cut and you need money quickly.
- You found a great property and you want to compete with all cash offers.
- You have bad credit and need some extra cash and traditional financing is not an option.
- You don’t show income on your taxes and don’t qualify for traditional financing.
- You owe the IRS and need money quickly.
- You recently completed a BK, short sale or foreclosure.
How Do Bridge Loans Work?
Bridge Loans are more driven by the asset than the borrower while at the same time we are focused on Bridge loans that have a TRUE exit plan. It is not our goal to “lend to own” and instead we are focused on the Gap, at the same time as having a plan for the permanent financing.
Only one signature needed and speak directly to the person who makes the decision. We are not interested in killing a bunch of trees and getting a bankers box of paperwork. Initially, we just want to talk, get to know you, and your need, including the property, loan amount, etc. If we believe we can satisfy the request we can quickly determine a path. For instance, you have not sold your home and it is listed for $900,000; you don’t owe anything, and you need $450,000 in 5-10 days. This is really a no brainer and we can issue a Conditional Approval very quickly with funding in your time frame with minimal documentation.
All properties types considered.
We will consider a 1st Trust Deed, a 2nd Trust Deed (why not if you have a great first at 3%) and 3rd Trust Deeds (same thought process).