Mortgage Terms

Lending Terms

Bridge Lend is Bridge Loan Network’s Referral Program Platform, dedicated to working with real estate investors, contractors, REO Agents, rehabbers and commercial property owners to help them acquire real estate financing. Our Lender’s make underwriting decisions based on the individual merits of each loan request, not on applicants’ past credit history. As a commercial lender, any loan application will be considered that is backed by a commercial property.

 

Length of Loan

Flexible loan terms from 9-36 months.

We also have longer term loans available with 30-year fully amortized fixed rate loans.

 

Borrowing Entity

All borrowers must close in the name of an LLC

 

Lien Position

First mortgage position.

 

Guarantee

A legal personal guarantee is required.

 

Loan to Value

Up to 80% of contracted purchase price for purchase transactions

Up to 65% LTV of the as-is value for refinance transactions

 

Interest Rate

Rates ranging from 8 to 12%, and long term products with rates that start at 5.99%.

 

Loan Size

$25,000 to $10,000,000

 

Loan Advances

Funds will be forwarded in draws of 1 to 4 advances to be determined by us. Funds will be wired by direct deposit into an account provided by the investor. An on-site inspection to determine current progress of the project may be required prior to release of funds. A sub-contractor guarantee may be required.

 

Prepayment Penalties

No prepayment penalties.

 

Loan Origination Fees

4 points.