With the wide array of financing options available in the real estate market, it can be a challenge to choose the option that’s best for you. At Brass Financial Group, we know that being well informed about your options helps you make smart decisions. Though commonly used, one frequently misunderstood financing option is the bridge loan. In this article, we’ll discuss how bridge loans work in the real estate industry.
What is a Bridge Loan?
A bridge loan is a short-term loan that can be used in both commercial and residential real estate. Traditionally used to bridge the gap between securing long-term financing, these loans can also be ideal for real estate investment projects like a fix and flip. You may hear bridge loans being referred to as swing loans, bridging financing, gap financing, or interim financing.
One of the key features of bridge loans flexibility. Bridge loans can provide an investor great flexibility in the real estate market by allowing them to act quickly to purchase a property, avoid foreclosure, or fix and flip an investment property. Additionally, bridge loans can provide current homeowners in the market for a new house with flexibility, as they can borrow against their current home in order to purchase a new home, rather than shopping for their new home with a sale contingency clause. Best of all, much like hard money loans, bridge loans can be secured quickly, with little paperwork and regardless of income or credit.
Bridge Loans with Brass Financial Group
At Brass Financial Group, our bridge loans get real estate investors the money they need to fix and flip homes quickly so they don’t have to miss out on investment opportunities. We offer bridge financing for up to 2 years on loans ranging from $75,000 to $2 million with rates between 10% and 14%. Additionally, we offer up to 70% loan-to-value!
If you’d like to learn more about financing options available with Brass Financial Group, fill out a loan application, email us at info@BrassFinancialGroup.com or give us a call at (609) 800-FUND today.