Architectural Drawing Picture of a mixed use building in Nutley NJ that is currently being funded with a Bridge Loan. Local Bank in Fairlawn NJ
Architectural Drawing Picture of a mixed use building in Nutley NJ that is currently being funded with a Bridge Loan. Local Bank in Fair lawn, N.J

Depending on where you live and what property type you are funding you have available to you many different lenders. Some are better than other and it is the job of the mortgage broker to determine which bridge loan lenders are the best.

Bridge Loans are offered when you need money fast and cannot either qualify of wait for a conventional loan. The LTV is more conservative than a conventional loan 65% to 70% LTV and the rates can start at 7-11%  plus 2 to 4 points and yes the deal must make sense.

Most importantly there must be a take out strategy in place within a reasonable period of time.

These loans are for a savvy investor to move quickly to close on a purchase opportunity, or renovate a property to improve the value and income.

 

Below we are going to discuss a handful of loan programs available.

   Product Description:

  • Loan Term:  Up to 3 years
  • Loan Amount:  $1m to %50 million
  • Lending Area: United States
  • Loan to value: Up to 65%
  • Interest rate:  7%-11% (Interest only)
  • Origination Fee:  1% to 3%
  • Prepayment Penalty: Not required
  • Closing Time: 1-2 weeks
  • Collateral:
  • Property types (National) Multi family I Office I Retail I Mixed Use
  • Property Types (Core markets) Condo Inventory I Parking Facilities I Urban Land I Luxury residential I Hospitality I Warehouse space
  • Lending Scenario’s
  • Time sensitive Transactions: 1031 exchange, Expiring Purchase, contracts auctions, partnership buyouts
  • Distressed Scenario’s: Bankruptcy bailouts, foreclosure Bailouts, Discounted payoff agreements.
  • Value Add:  Construction Loans, renovation Loans, Construction Completion, Tenant Improvements
  • Cash out: Non revolving Line of Credit
  • Asset Risk: Expiring leases, Non Stabilized properties
  • Sponsorship Risk: Foreign Nationals, credit issues, liquidity Constraint

…………………………………………………………………………………………………………………………………………..

Second Example of a Bridge Loan Lender:

NY Tri State Area (Brooklyn, Manhattan, Queens and the Bronx)

REAL ESTATE FINANCE & ACQUISITIONS 
The rates wont be 3.5%, however, under certain circumstances we can originate senior bridge financing under the following terms:
  • $500,000 – $2,000,000
  • Origination2%
  • Rates 6.5% – 8%
  • Up to 70% LTC
  • Terms 12-24 Months
  • Multi-Family Mixed-Use Retail & Land
  • 30 Days to Close

       We continue to originate more traditional bridge financing, i.e. higher rates, as follows:

  • $1,000,000 – $10,000,000
  • Up to 80% LTC
  • Multi-Family Mixed-Use Retail Development & Land
  • First Mortgages
  • Mezzanine Loans
  • Preferred Equity
  • Soft Deposit Financing
  • Loan Acquisition Financing
  • Two Weeks or Less to Close
Funding  multi-family, retail and mixed-use assets in Brooklyn, Manhattan, Queens and the Bronx.

        

Here is a Third lender

      Offering real estate lending and investing. Our firm provides loans for short sales, acquisitions, refinancing, REOs, construction and commercial property acquisitions as well as bridge loans. Product types include multifamily, commercial properties, new construction, retail, land, and industrial. We offer quick decisions to meet your financing needs no matter how complex the transaction.

Loan Types: First and Second Liens, Mezzanine Financing, Acquisition, Refinance, Construction, Cash- Out Refinance, Bridge Loans

Loan Amount: $500,000 to $20,000,000

Term: Six Months to 3 years

Interest Only:  8% to 12%

Loan- to-Value: Up t0 85%

Loan Origination:  1-2 %

Amortization: Interest Only

Prepayment Penalty:  None after 6 months

Payoff Fee:   0% to 15

Property types:  Multifamily, Retail,Mixed Use, Office, Industrial, warehouse, Non owner Occupied  Residential, Self storage, Special Purpose, new construction, land

Costs: Borrower is responsible for all closing costs and out of pocket expenses

East Coast:  Prefer Tri State Area… NJ/NY/CT

………………………………………………………………………………………………………………………………….

4Th Example:

Our knowledge and resources mean we can close in as little as 5 days for loans from $1 million to over $50 million with a loan to value ratio of up to 70%. We are experienced internationally serving clients in the USA, Canada, Europe, the Caribbean and Central and South America.

  • Fast Turnaround
  • 2 Days for Commitment
  • Closing in as little as 5 days
  • Loan amounts from $1 million to over $50 million
  • Up to 70% Loan to Value Ratio
TERM:
Flexible loan term up to 5 years.PREPAYMENT:
No prepayment penalties.LOAN TO VALUE:
Up to 75%.RATES:
Rates from 9% per annum.FEES:
As low as 2%.
LOAN SIZE:
From $1 Million to $50+ Million nationally.COLLATERAL:
Real estate and other fixed or liquid assets.PROPERTY TYPES:
Multifamily, Condo, Office, Retail, Hotel,
Industrial, Mixed-use, Land…………………………………………………………………………………………………………………………………………..

5Th Example:

Bridge capital programs are designed with the creativity needed to service this diverse market. We offer multiple capital allocation buckets to provide a wide-range of products for all classes of real estate.

Bridge Lending Platform

Time to close 7 – 14 days from application
Loan Size $1,000,000 – $50,000,000 (Case by case as low as $250,000!)
LTC Up to 80%
Lien Position First Mortgage or Deed of Trust
Loan Term 6 to 24 months
Extentions 6 to 12 months
Interest Rates 8.00% to 12.00% fixed
Amortization Interest-Only
DSCR DSCR below 1.0x acceptable with Interest Reserve
Yield Maintenance Minimal pre-payment penalty
Deposits Deposit adequate to cover third-party reports, legal fees, and other deal costs
Origination & Exit Fees Origination: 1.5% to 2.5% & Exit 0.5% to 1%

        

Above we have a few great examples of what is available today.

If you are interested in a loan or have a question please email or call me? mark@commercialmortgageunlimited.com  201-925-3470

Thanks Mark Fulop (Owner / Underwriter)

Bridge funding available.
Bridge funding available.

      

     Looking for short term funding to buy a commercial property but you want a short term loan.  We offer a variety of programs please email me your scenario?                                                          

  • BASIC LOAN CRITERIA
  • Term 18 Months
  • Loan Amount$100k to $2.5M+
  • LTV
    Up to 70% of the purchase price;
    Up to 50% Refinance;
    Up to 50% Cash-Out
  • Property TypesMixed-use; office buildings; apartment complexes (5 units+); retail spaces
  • FICO 600