Looking for a high leverage bridge loan? $5 Million +
Large Non-Recourse Bridge/Construction Loans w/ High Leverage!
Fico – Credit worthy individuals. Lender is not fico driven but any fico challenges need to make sense.
Loan Terms – 1-3 years, interest only. Can sometimes go longer than 3 years.
Loan Size– $5-75 million. Sweet spot is 15-40 Million
Max LTV/LTC- Up to 75% LTV on a bridge loan. Sometimes the lender can go higher as well. Lender will fund 100% of the construction as well.
Interest Rate– Libor plus 5.0%-7.0%
Property Types– Most commercial properties
Pre-Payment Penalty – No PPP. Lender sometimes charges 1 point as an exit fee.
Use of Funds – Purchase & Refinance
Origination Fee – 1 point to lender
Territory– All 50 States besides Hawaii & Alaska. Favors the SW & NW in the United States. Also lends in major cities in Canada.
Closing Time– 2-3 weeks
Special – This lender focuses on value add bridge loans. These are NON RECOURSE loans! Lender likes when the property has multiple tenants.