Loan Products
Bridge Loans
Bridge the gap between your property transactions with fast, flexible financing solutions tailored to your investment needs.
Quick, Flexible Financing for Seamless Property Transactions
Why Choose a Bridge Loan?
Bridge Loans are perfect for situations where timing is critical. Whether you’re looking to secure a new investment property, take advantage of a time-sensitive deal, or avoid the pressure of having to sell your current property quickly, a Bridge Loan offers the flexibility and speed you need. With a Bridge Loan, you can move forward with confidence, knowing that you have the financial support to transition smoothly between properties.
Key Features of Our Bridge Loans:
Flexible Loan Amounts: We offer loan amounts ranging from $75K to $4M, allowing you to finance a wide range of real estate transactions, from residential homes to multi-unit properties.
High Loan-to-Value (LTV) Ratios: With up to 80% LTV, our Bridge Loans give you substantial borrowing power, making it easier to secure the property you want.
No Income Verification: Our streamlined approval process focuses on the value of your current and new properties, minimizing the need for extensive income documentation.
Quick Funding: Time is of the essence in real estate, and our Bridge Loans are designed to provide you with fast access to the funds you need, often within days of application.
No Pre-Payment Penalties: Enjoy the flexibility to repay your Bridge Loan early without incurring extra fees, giving you the freedom to manage your finances your way.
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Frequently Asked Questions
BRIDGE LOANS
What is a Bridge Loan?
Bridge Loans are short-term financing solutions designed to help real estate investors quickly access the capital needed to purchase a new property before selling an existing one. These loans are ideal for investors who need to act fast on an opportunity but have their funds tied up in a property that has not yet been sold. Bridge Loans provide the necessary liquidity to bridge the gap between the sale of one property and the purchase of another, ensuring that you don’t miss out on valuable investment opportunities.
When should I consider using one?
A Bridge Loan is a short-term financing solution that provides real estate investors with quick access to capital for purchasing a new property while waiting for the sale of an existing one. You should consider using a Bridge Loan when you need to act quickly on an investment opportunity, but your funds are tied up in a property that hasn’t yet been sold.
How do Bridge Loans differ from traditional mortgage loans?
Bridge Loans differ from traditional mortgage loans in that they are short-term, typically ranging from 6 to 24 months, and are designed to “bridge” the gap between the purchase of a new property and the sale of an existing one. Traditional mortgage loans, on the other hand, are long-term financing options used to purchase or refinance properties with fixed or adjustable interest rates and longer repayment terms.
What are the typical loan terms for Bridge Loans?
Bridge Loans generally have terms ranging from 6 to 24 months, providing the flexibility to manage your property transactions without the long-term commitment of a traditional mortgage. The short-term nature of these loans is designed to accommodate the transitional period between property sales.
Can I use a Bridge Loan to purchase a property before selling my current one?
- Yes, one of the primary uses of a Bridge Loan is to purchase a new property before your current one is sold. This allows you to secure a new investment without having to rush the sale of your existing property, giving you the flexibility to transition smoothly between transactions.
What are the loan-to-value (LTV) limits for Bridge Loans?
- The loan-to-value (LTV) limits for Bridge Loans typically go up to 80%, meaning you can borrow up to 80% of the property’s value. This allows you to maximize your borrowing power and secure the funds needed for your investment.
Are there any prepayment penalties with Bridge Loans?
- Bridge Loans offered by First and Seconds do not have prepayment penalties, giving you the flexibility to repay the loan early without incurring additional fees. This is especially beneficial if you sell your existing property sooner than expected and want to pay off the loan early.
- 30-year fixed-rate loans
- Adjustable-rate mortgages (ARMs)
- Interest-only options
- These options provide flexibility in managing your investment and repayment strategy.
What types of properties can be financed with a Bridge Loan?
Bridge Loans can be used to finance a variety of properties, including 1-4 single-family homes, condos, and townhomes. They are versatile and suitable for both residential and investment properties, making them an excellent option for various real estate transactions.
How quickly can I get approved for a Bridge Loan?
The approval process for a Bridge Loan is typically faster than that of a traditional mortgage, often taking just a few days from application to funding. This quick turnaround is designed to help you act swiftly on time-sensitive investment opportunities.
What is the process for repaying a Bridge Loan?
Bridge Loans are usually repaid in full when the existing property is sold. The proceeds from the sale are used to pay off the loan, including any accrued interest. Because these loans are short-term, the repayment process is straightforward and aligned with the sale of your property.
Can I refinance a Bridge Loan into a permanent mortgage?
Yes, it is possible to refinance a Bridge Loan into a permanent mortgage once your situation stabilizes and you no longer need the short-term financing. This can be an effective way to transition from the temporary loan into a long-term, stable financing solution for your property.
Our Clients
Don’t just take our word for it
Adam M
I found a distressed property in a prime location, but I lacked the funds for renovation. First and Seconds for help, and they provided me with a Rehab Loan that covered both the purchase and the renovations.
Karl T
I wanted to expand my rental portfolio and needed a reliable financing option. First and Seconds offered me a DSCR Rental Loan, which enabled me to purchase a new rental property. The loan terms were flexible, and the approval process was fast.
Maria S
I purchased an old, run-down property with the vision of revitalizing it and improving the local community. With a Rehab Loan, I was able to finance extensive renovations.
Michael W
When I came across a prime investment opportunity, I knew I had to act fast. However, my capital was tied up in another property that hadn’t sold yet. First and Seconds came through with a Bridge Loan that gave me the immediate funds I needed.