Bridge Loans
You’ve come to the right place! Welcome to the #1 source for bridge loans, where we help you accomplish your goals, whatever they are. In real estate, good opportunities wait for no one! That’s why we specialize in providing fast, no hassle, bridge loans in UT, CO, ID, WY, MT, TX, OR, and WA.
Fast-Track Your Real Estate Goals with Our Bridge Loans
Our expertise in the markets of Utah, Idaho, Wyoming, Montana, Colorado, Arizona, Nevada, Texas, Washington and Oregon means we can provide not just bridge loans, but strategic guidance in your real estate goals. We pride ourselves on quick funding loans, which helps you move fast on time-sensitive transactions.
Understanding Bridge Loans
Bridge loans are short-term loans designed to bridge the gap between your loan needs right now and the long-term goal for a property. Whether you need a fast funding loan for a property acquisition, or to complete rehab or ongoing construction, or even for a partner buyout, these are just 3 examples where a bridge loan is the perfect solution.
Competitive Interest Rates
Get the maximum return out of your real estate investment with our competitive bridge loan interest rates. Our interest rates are typically lower than our competitors.
Fast Funding on Real Estate
Sometimes the clock is ticking which means you need a quick loan. Our bridge loans fund quickly, allowing you to meet your deadlines.
Streamlined Bridge Loan Application Process
Make your real estate ambitions a reality with our simplified, bridge loan application process. We understand the importance of time in when it comes to getting a loan, this is why we’ve made our loan application as easy as possible!
Fast Approvals
We’ve simplified the loan approval process. With just a few pieces of information, we can provide you with a fast bridge loan approval. APPLY NOW!
Connect With Our Bridge Loan Specialists
Do you have questions before starting the application process? Our bridge loan specialists are here to answer them. Contact us now to secure a bridge loan with no delay.
Personalized Loan Consultation
Receive one-on-one consultation with our expert loan advisors. We can discuss your bridge loan options with you to help you decide which best meets your need.
Flexible Loan Terms
Flexibility is key in bridge loans, which is why many people seek them. Our bridge loans are not, “One Size Fits All.” For example our loan terms, payment reserves, repayment schedules, and other aspects of our bridge loans make them flexible to fit your specific needs.
Fast Funding
We can close loans in as little as 2-3 days. When the clock is ticking we come through!
Licensed and Accredited
We follow the rules and don’t pull anything shady. We are accredited by the Better Business Bureau and we are a licensed mortgage entity. Check out our reviews!
Borrowers First
We put your needs as a borrower first and we can help you decide quickly what type of loan is best for you.
Bridge Loans Frequently Asked Questions
Bridge loans are collateralized with real estate. Bridge loans usually have lower documentation requirements as compared with traditional bank loans. Bridge loans are also fast funding loans that are more asset based rather than credit based. Bridge loans tend to have higher interest rates and loan fees as compared with conventional loans from traditional sources like banks, credit unions, and mortgage companies.
Yes, a bridge loan is the same as hard money because people often call a bridge loan a hard money loan. Hard money loans are called hard money loans because they are loans against a hard asset like real estate.
Bridge loans are not hard to get, in fact, they tend to be easier to obtain as compared with a traditional bank loan because documentation requirements are lower, as well as low to no minimum credit score requirement.
Homeowners may take out bridge loans for several purposes. Sometimes a temporary bridge loan for relocation is needed for homeowners that want to buy a new home before they sell their current home. Other times, a homeowner may get a bridge loan to make repairs or improvements to a property to prepare it for sale. And then, another common use of bridge loans by homeowners is for business purpose, however this is far less common since the exit strategy (plan for paying the loan back) is not as clear cut on business purpose bridge loans. Homeowners may also take out bridge loans in divorce settlements to buy out a partner from a property that they will later refinance with a long term, 30 year loan. Homeowners are NOT able to obtain bridge loans to pay off consumer debt, to cash out of a home for personal expenditures, or to retire other consumer debt.
A home equity loan is better for consumer purpose like consolidating debt, paying off consumer debt or other debt, or for making home repairs or improvements when the intent is NOT to sell the home. A home equity loan is better for investment or business purpose as compared with a bridge loan because home equity loans have lower interest rates and longer loan terms than bridge loans. A bridge loans is better than a home equity loan when the purpose is to make improvements or repairs needed to prepare a home for immediate sale. A bridge loan should never be used for consumer purpose as they tend to be very short term and high cost as compared with home equity loans.
Bridge loan costs vary widely from loan to loan because of a variety of factors, so it’s really tough to pinpoint an exact cost. However, bridge loans tend to come with a much higher cost as compared with traditional bank loans with interest rates usually at 10% or higher, and loan fees of 2% or higher. The final cost of a bridge loan depends on the loan amount, loan to value, property location, property use, property occupancy, property condition, and a variety of other factors. Each loan is looked at on a case by case basis. It’s impossible to give anyone an exact cost for a bridge loan until a certain amount of information is obtained about the loan being requested.
A bridge loan is NOT a personal loan. This means that a bridge loan requires collateral, or security for the loan. In this case, the property is the collateral or security for a bridge loan. Bridge loans are NOT intended for consumer or household use.
Some of the disadvantages of bridge loans, as compared with traditional bank loans are the following. Bridge loans tend to have higher interest rates and fees as compared with traditional bank loans. Bridge loans are shorter term loans, which means the repayment period is typically 12-24 months. For borrowers seeking the lowest interest rate and lowest cost loan out there, a bridge loan may not be a fit. And for borrowers seeking a long term, permanent mortgage, a bridge loan is not a fit.
More Bridge Loan Questions?