Bridge
Financing of newly constructed or renovated properties that are currently vacant and stabilized and are ineligible for permanent financing.
Lending Criteria
| LOAN AMOUNT | $150,000 to $1.5 million. Loan amounts outside of this range considered. |
| LOAN TERM | 6, 12, 18 or 24-months |
| PAYMENT TYPE | Interest-only with a balloon payment at maturity |
| LOAN TO VALUE | Up to 75%; 65% for cash-out |
| LOAN TO COST | Up to 75% |
| CLOSING TIMELINE | 5 to 10 business days |
Additional Guidelines
| FICO | 680 min soft credit assessment |
| PROPERTY CONDITION | Must be in C1-C4 condition with no renovations outstanding |
| ELIGIBLE PROPERTIES | Single-family, townhomes, warrantable condos, and 2-4 units (5-10 units considered) |
| ELIGIBLE STATES | Nationwide except ND, NV, SD, VT and WV |
| BORROWER | Loans are made to entities. A personal guarantee is customary. |