12-24 Month Bridge Refinance Cash Out
A 12 or 24 month bridge loan, designed as a financing solution for real estate investors that provides maximum “cash out” flexibility with no prepayment penalty!
THERE IS CURRENTLY A 5% REDUCTION IN ALL PUBLISHED LTV’S!
General Funding Guidelines
Nationwide Funding Available
Except in the following states: AZ, ID, MN, ND, NV, OR, SD, UT, VT
Virginia must close in business entity only.
Max 80% LTV Available In Certain Metropolitan Areas
- 580+ Minimum Qualifying credit score!
- Interest only payments!
- No Appraisal – Use BPO for valuation!
- No personal income verification!
- Close in about 15 Business Days!
- No escrows of taxes and insurance!
- Up to 80% LTV available in certain market areas!
- No income docs required!
- Properties listed for sale OK!
- Vacant properties OK!
- No employment verification!
- No pre-payment penalty!
- Close in personal name or business entity!
- No seasoning on title for completed renovation projects!
24 Hour Pre-qualification With No Credit Pull Required – Click Here
Loan amounts are from $75,000.00 – $2,000,000.00 for single family and 2-4 units, including condo’s and townhomes.
Interest Rate Range:
Interest rates typically range from 8.75% – to 11% (interest only payment) based on borrower credit and LTV.
Single Family, 2-4 units, town-homes, condo’s.
Seasoning On Title Requirement
No seasoning on title requirement for properties that have been renovated within last 12 months. 12 month seasoning on title for properties that have not been renovated.
For Properties Renovated Within Last 12 Months: Must provide original scope of repair work OR list of repairs completed and interior/exterior photos.
Closing can be executed in either registered corporation (LLC, S-Corp, C-Corp) or individual name.
A Broker Price Opinion (BPO) is required versus a full traditional property appraisal.
– Loan origination fee: 3.50% of total loan amount or $3,995.00 (whichever is greater)
– Underwriting fee: $1,195.00
– Processing fee: $795.00
Required Documents For Underwriting Approval
– Clear and legible copy of government issued ID (all members of business entity)
– Copy of HUD Settlement Statement from acquisition of property
– Last 2 months bank statement (all pages)
– Copy Of IRS EIN Letter for business entity (if applicable)
– Proof of last 12 months payments on subject property
– Copy of Articles of Organization for LLC or Incorporation for a Corporation (if applicable)
– Copy of Operating Agreement for LLC or Corporate Charter/Bylaws for Corporation
– Copy of fully executed lease agreement (if applicable)
– For Renovated Properties: Copy of original scope of repair work OR list of repairs completed and interior/exterior photos.