Bridge Loans in NYC
What are Bridge Loans?
Though bridge loans are a valued financial instrument in the New York City real estate market, yet, some problems associated with them. Designed so that you can have money for your new home no matter when you sell your old one, these short-term loans help you access immediate funds whenever you need your timing to be flexible.
Why Choose Bridge Loans?
The New York real estate market with its intensive rate is like clockwork. Timing is the crucial determinant. Whether you are willing to trade for a better house, manage your smaller area, or invest in a great transaction, bridge loans in cash will give you the flexibility or power to speed the moving process and feel no fright.
How Bridge Loans Work?
The bridge loan will be accessible if you are on the verge of selling your existing property but have not yet closed the chapter. The funds necessary for your new purchase are provided by this lending method. The maximum preferred range of repayment terms is from a couple of months to a year. This means that bridge loan amortization is temporary and they are normally used until permanent financing has been secured or a sales closing of an existing asset has been done.
Some of the significant merits of using Bridge Loans in NYC
1. Speed: Bridge loans help you in accelerating your real estate processes, thus you can break into the market before your late competitors.
2. Flexibility: The main reason bridge loans exist is you are either buying a new home, investing in property, or refinancing debt, and they are sure to offer you a range of flexible financing options that suit your unique requirements.
3. Competitive Rates: Bridge loans are a competitive financing option with flexible terms and also cost-effective solutions that are best used if you have real estate enterprises to carry out.
Why Choose Us?
In our company, we experience ourselves as the company which stands out for the individually tailored bridge loans for our clients in New York City and other places. By applying all of our years of experience along with a detailed expertise of the local market, we assure you that together we will get to your property objectives, feeling praised and peace of mind.
Get Started Today
Don’t let timing constraints hold you back for failing to leverage the potential gains that exist in New York City’s real estate market. Please contact us today to find out more information or to learn about our bridge loan offerings and you will be one step closer to living your residential land dream.
LOAN AMOUNT
$5,000 - $500,000
TIME TO FUND
1 to 2 Weeks
TERMS
1 - 5 Years
INTEREST RATE
As low as 8%
CREDIT SCORE
660+
Bridge Loan Program
A hard money loan intended for new and experienced real estate investors seeking funding for short-term financing nationwide.
LOAN CRITERIA
Collateral:
Non-Owner Occupied 1-4 Family & Multi-Family Real Estate;
Condos; Townhomes
Term:
12 – 18 Months
Loan Amount:
$50k – $7.5M
LTV:
Purchase: The Lesser of Up to 75% of the Purchase Price
or Up to 80% Loan-to-Cost
Refinance: Up to 65% of the As-Is Value
Cash-Out: Up to 60% of the As-Is Value
Credit Score:
620 Minimum
