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Residential Bridge Loans
For a Rate and Fees quote call
800-390-7536
Brokered Residential Bridge Loans
A Bridge Loan allows you to take advantage of the equity in your current Owner-Occupied residence or possibly another property you own (which is intended to be sold) to purchase a new residence or construct a new home. Please call for Bridge Loans on Non-Owner Occupied homes.
General Guidelines*
- Loan amounts from $95,000 to $5,000,000
- Loan to value up to 80% of appraised value. Loan amounts over $1M maximum 75% loan to value.
- Allows you to sell your home on your time schedule
- Deal directly with the Loan Officer/Underwriter
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
- Full income documentation or limited income documentation available
- Foreign Nationals are eligible for this program
- 1 to 4 family Owner and Non-Owner properties are eligible (other property types may be considered on an exception basis)
- 12 month term
- Interest only payments
*All rates and terms subject to change without notice
Rates and Fees
(Based on credit score, income, savings and LTV)- Rate: Prime Rate plus 2.00% to 4.00%+
- Loan Fee: 1.00% to 1.50%+
- Application Fee: $295
- Fast Track Closing Fee: $1,250
- Underwriting Fee: $425
- Maximum Broker Fee: 1.50% to 2.00% (subject to Broker Compensation option)
