Blue Note Assets
Commercial Loan, Bridge Loans, Bridge Loan
There are several reasons that a Borrower may seek Bridge Money; a property is difficult to finance such as raw land; Credit problems – a poor credit history of the Borrower or the property; a Balloon payment is due and conventional financing in not available to the project; Lack of documentation or a property has been non-producing and requires a turn-around operationally and financially – all of which requires quick and ready cash for a solution.
When conventional financing fails to meet your needs a Bridge Loan can be the desired option. This is often a hard money loan that assists the borrower in accomplishing a specific goal. They need not have any credit or monetary challenges just short on time. The loan is quickly underwritten with the end results for the borrower in sight.
However, a hard money or bridge loan should not be final solution for a property unless the property or project is going to be re-sold quickly or it is a For-sale property such condos or SFR lots, etc. So, when you do the math a Hard Money loan may not be that expensive or unreasonable.
, Bridge Loans
, Commercial Loan