What are Bridge & Hard-Money Loans?
Bridge/Hard-Money Loans are loans that is secured by real property. They are usually provided by private investors or companies, rather than banks or other traditional lenders. Bridge/Hard-Money loans are often used to provide temporary funding for construction, rehab, or major capital improvements with rollover terms at stabilization or completion of the improvements.
Unlike other types of loans, Bridge/Hard-Money loans emphasize the property’s potential value instead of the borrower’s income or other debt. By using the property’s value as the main qualification factor, Bridge/Hard-Money loans provide borrowers with the opportunity to purchase and refinance properties more easily.
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Benefits of Bridge & Hard-Money Loans
Can be used to purchase, refinance, develop, renovate and stabilize the property
Very quick closing times
No maximum loan amount
You can include the costs of construction or renovations into the loan
You can collateralize multiple properties to secure the debt that you’re seeking
You can diversify your portfolio and take advantage of more opportunities more easily and faster
You can access more capital and leverage your investment portfolio
You can qualify for financing based on the property’s potential value (after repaired value)
No limit on the number of properties owned
Any type of property is allowed
Your personal or business income documentation is not required
Your other debt obligations do not matter
Close in your individual name or in the name of an entity
