"Bridge" Loans

·  Short term loan typically 6 – 36 months

·  Bridge Loan is a “Top Level” expression

           Short Term Purchase

           Short Term Rate & Term Refinance (with or without rehab)

           Short Term Cash Out Refinance (with or without rehab)

·  Everything about the deal potentially matters in a Bridge Loan

         Property condition

         Is rehab needed?

         Exit strategy

         Occupancy status

         If rented, does the rental income support the mortgage payment?

         Borrower profile

·  Leverage & Interest Rates are similar to Fix & Flip Loans

·  Be prepared to explain to lender “Why A Bridge Loan

·  Lender may scrutinize exit strategy or want some form of proof