Fast Bridge Loan Lender
Our commercial and residential bridge loans are designed as interim financing for an individual or business until permanent funding can be found. As professional bridge loan lenders, our team can help you get the short term cash flow that you need to fix your property or the capital you need to purchase another property. Our team has the experience needed to guide you through the entire bride loan process with favorable loan rates.
Our team has experience with residential bridge loans as well as commercial bridge loans so you can rest assured that we can help with nearly any project that you may have. The HardMoney Company is a private hard money lender which allows us to provide our clients with custom bridge loan rates and turn-around-time that banks aren’t able to offer.
Table of Contents
- What Is A Bridge Loan?
- What Are The Benefits of A Bridge Loan?
- Bridge Loans vs Traditional Loans
- How Does A Bridge Loan Work?
Bridge Loans At A Glance
- Types of Property: Single Family Homes, Multi-Family Residents, Commercial, 5+ Units, Industrial, Office Park
- Loan Values: $50k Minimum - No Maximum Loan Amount
- Loan Term Length: 6 - 18 months
- Average Interest Rate: 8% - 15%
- Loan-To-Value (LTV): Typically up to 80%
- Funding Time: Typically can close deals as quick as 7 days
What Is A Bridge Loan?
A bridge loan is a specific type of loan used by residential and commercial property owners to secure short term capital that they need to work on their property until they are able to secure permanent funding. Bridge loans provide the property owner with quick cash flow so they can continue to work on their property or even to provide them with the capital they need to purchase another property.
Once a commercial or residential property has been purchased, it may take time to improve the residence, place tenants, or sell the property. A Bridge Loan can provide the funds for an investor, real estate professional, or contractor to purchase, build, fix, or flip a home or building. For example, if the primary residence is on the market to be sold and you need a temporary loan to purchase another property, the HardMoney Company will give you a Bridge Loan on your primary residence. If you own a property free and clear or with substantial equity, you can use this as collateral for a Bridge Loan.
What Are The Benefits of A Bridge Loan?
The main benefit of bridge loans is that the financing deals are flexible to help individuals and corporations secure the intermittent capital they need for their real estate investment projects. Project expenses can pop up out of nowhere which can cause issues with your project, but a bridge loan will provide you with the cash flow you need to continue operations.
Bridge loans are known for their flexibility which makes it a great option for a wide variety of different types of projects as you can work with the hard money lender to find a deal that works for your project. Our team can help you receive a bridge loan in order to have the funding you need to progress your project.
Bridge Loans vs Traditional Loans
Bridge loans are often confused with traditional loans but they provide a much different opportunity compared to traditional loans. A bridge loan is utilized when an individual or a corporation requires fast access to funding. This funding can be used to keep their project on schedule, to repair their building, or to cover cash flow issues in the short term. Bridge loans typically have higher interest rates because they are utilized over a shorter period of time, whereas traditional loans aren’t known for being specifically short term loans.
How Does A Bridge Loan Work?
Bridge loans can also be known as interim financing or gap financing, but they work by providing property owners the cash flow they need to bridge the gap when they are awaiting capital from their property but the funds aren’t available yet. Bridge loans are used by large commercial corporations as well as individual residents through a variety of different situations.
Residential bridge loans are often used by homeowners who are looking to purchase a new home while their current home is still on the market. The loan gives them the capital they need to close on the new house while they wait for the original house to sell. The same process is possible for commercial bridge loans as property owners will need time and capital to repair the property before they sell it. Our team can provide you with the short term capital that you need to move forward with flipping your property.
Types of Loans We Offer
Our team specializes in different loan types to help you succeed with your project. We offer the following loan types as well as other options: