Single Family Residential Short Term Bridge Loan
In real estate financing, “experience” is what matters most. We can arrange financing for any loan. We also have the flexibility to tailor the right loan product for the borrower, through our investor network of over 3000 lenders.
Our highly trained, knowledgeable staff examines each transaction to place it in the best program based on your unique scenario. We understand the complexity of any transaction in today’s market and most importantly, we have the relationships with lenders, investors and banks to close deals efficiently and quickly.
Loan Criteria
| Property Type | Single Family Residential (1-4 Units Per Property) Stabilized, non-owner occupied rental properties only Single Properties Up to 10 property portfolios All properties must be in the same county Minimum occupancy requirements: For ≤9 units: 80% For 10 units: 90% |
|---|---|
| Loan Amount | Maximum Loan amount: No Cash-Out: $2,500,000 With Cash-Out: $1,500,000 Maximum Cash-Out: $500,000 Minimum Loan Amount: $100,000 |
| Loan Purpose | Purchase Delayed Purchase Rate/Term refinance, no cash-out Rate/Term refinance, with cash-out *Loans within 6 months of an all cash purchase may use ‘Purchase’ terms. |
| Loan Type | Term: 30 Years Fixed Rate, P&I payments 30 year fixed rate, fully amortizing Adjustable Rate Mortgage (ARM), IO payments (70% MAX LTV) 10/6 ARM, IO for 10 years, then P&I on a 20 year am 7/6 ARM, IO for 10 years, then P&I on a 23 year am 5/6 ARM, IO for 10 years, then P&I on a 25 year am |
| Property Value | Maximum property value A. 1 unit: $3,000,000 B. 2-4 units: $5,000,000 Minimum property value: $75,000 |
| Eligible Property Types | Single family detached 2-4 units attached Condominiums Townhomes Planned unit development (PUD) Mixed-use with > 50% residential use by square footage For STVR’s, appraised long term rents will be used for DSCR calculations |
| Ineligible Property Types | Lots of 20 acres or more Co-ops Manufactured or Modular homes Log homes |
| Lending Locations | All states except: ID, NV, ND, SD, UT, VT No rural locations |
| Prepayment Penalty Options | Yeild Maintenace options: 5, 4 , 3 , 2, 1 step down available |
| Maximum LTV | Purchase | Rate Refi or Cash Out | Rate Refi w/$100k Cash Out | |||
| Fico\DSCR | > = 1.20x | 1.0x-1.19x | > = 1.20x | 1.0x-1.19x | > 1.25x | |
| > = 740 | 80% | 75% | 75% | 75% | 80% | |
| 720-739 | 80% | 75% | 75% | 70% | 80% | |
| 700-719 | 75% | 75% | 75% | 70% | 75% | |
| 680-699 | 70% | 70% | 65% | 65% | 65% | |
| 660-680 | NA | NA | NA | NA | NA | |