At IGR Mortgage Services we provide Bridge Loans for real estate investors to provide short-term financing for a variety of lending situations. Banks and conventional lenders don’t offer these Bridge Loans, so private money fills the void enabling investors to take advantage of opportunities they would otherwise be unable to undertake.
Bridge Loan Overview
In its most basic form, a real estate bridge loan is short-term financing provided to a borrower to allow them to purchase a property before their currently owned property is sold. Bridge loans are short-term loans for real estate transactions which generally require quick funding. A property owner uses a bridge loan to borrow against the equity in their existing property to finance the purchase of a new property. As soon as the new property is acquired, the previous property is sold in order to pay off the bridge loan. Bridge loans can also be utilized in reverse order by obtaining the loan against the new property being purchased and then paying off this loan when the previous property is sold. Bridge loan financing typically has a term of 12 to 24 months. IGR Mortgage Services is able to provide funding for hard money bridge loans on investment property within a matter of days.
Bridge Loan Features:
Flexible underwriting and FICO’s from 500. Other highlights:
- Loan Amounts from $75K to $5M
- Loan-To-Value Ratios to 75% (Fix & flip Up To 90% of Cost)
- Loan Terms of 12 to 24 Months
- Use of Funds For Purchase, Refinance or Cash-Out.
- Loan to Individuals, Entities, Trusts, Foreign Nationals
Why You Should Use A Bridge Loan