Bridge Loans
- Bridge Loan product can accommodate larger loans, up to $10 million in size
- Ideal for Mixed-Use, Commercial, and Industrial properties
- Allows to purchase and stabilize property prior to refinancing
- Verbal pre-approvals provided on the phone, and same day written pre-approvals
- Funding within 1-2 weeks
- Starting at 6.5% interest rate
- 1.5 – 2% origination fee
- No other fees — we mean it, zero
- 1 Year loan is standard
- 2 and 3 Year loans are available
- Extension option available (typically in 6 months increments)
- 80% of purchase price
- 100% of rehab
- Total Loan amount not to exceed 75% ARV
- First Lien Only
- Home Loan Services llc will order appraisal and perform credit check
- No minimum FICO
- Existing appraisals are accepted in time sensitive situations
- Phase 1 environmental report required on select industrial properties
- Insurance policy listing Home Loan Services llc as loss payee and additional insured
- Builder’s risk insurance on extensive rehab projects