Often a commercial borrower needs a bridge loan to facilitate the financing a property for a short period of time. A bridge loan is a specially designed form of financing that is used when a borrower is expecting to sell a property quickly or refinance it within the near future.
Bridge Loans from SecurityNational Capital
SecurityNational Capital offers bridge loans on a variety of commercial properties including apartments, retail, industrial, office, medical office and mixed use. When a bridge loan is made, we look for an “exit strategy” to be certain that our borrowers have a plan to retire the loan through selling or refinancing the property. Bridge loans are usually offered for terms of 12-24 months and many can be refinanced into low cost, long-term financing through SecurityNational Capital. Bridge loans are not only for shorter terms, but are also often needed to close quickly. We pride ourselves in being able to meet our clients’ financing needs in a timely manner.
Bridge Loan Details
|Current Bridge Loan Details from SNCLoans|
|Property Types:||Commercial, multi-family, office, retail, industrial, flex R&D, manufacturing, medical office, flagged hotels and motels|
|Loan Term:||12-24 Months|
|Loan Purpose:||Purchase or Refinance|
|Loan Amounts:||$500,000- $5,000,000|
|Loan Amortization:||20-30 Years or Interest Only|
|Loan to Value:||75% Maximum|
|Recourse:||Recourse to responsible individual|
|Required Reports:||M.A.I. appraisal, environmental screen or level 1 EPA|