We are thrilled to announce the launch of our new Bridge Loan product, designed to provide flexible financing options for real estate investors. Unlike many other lenders, we do not require prior experience and offer the convenience of an early payoff. Whether you’re a seasoned investor or just starting out, our Bridge Loan is tailored to meet your needs. Read on to discover the key features and benefits of this exciting new offering.
Key Features:
1. NO Experience Needed: we believe in providing equal opportunities to all investors. With our Bridge Loan, no prior experience is required, making it accessible to both new and experienced investors.
2. Interest Only: Our Bridge Loan offers the convenience of interest-only payments, allowing you to manage your cash flow more effectively during the loan term.
3. No-DSCR Required: Unlike traditional loans, our Bridge Loan does not have Debt Service Coverage Ratio (DSCR) requirements. This means you can secure financing without worrying about meeting specific income criteria.
4. Non-Arm’s Length Transactions Allowed: We understand that real estate transactions can involve various parties. With our Bridge Loan, we allow non-arms-length transactions, providing you with the flexibility to work with family members or business partners.
5. Early Payoff Allowed: we believe in empowering investors to take control of their finances. Our Bridge Loan allows for early payoff, giving you the freedom to repay the loan ahead of schedule without any penalties.
6. Max Seller Concession 6%: We offer a generous maximum seller concession of 6%, allowing you to negotiate favorable terms with the seller.
7. Flexible LTV Options: Depending on your credit score, our Bridge Loan offers up to 75% Loan-to-Value (LTV) for purchases and up to 65% LTV for cash-out refinancing. With a minimum FICO score of 680, you can access financing for your real estate projects.
8. Minimum Occupancy and Unit Requirements: To ensure the viability of the property, we require a minimum occupancy of 20% and a minimum of $50,000 per unit. This helps protect your investment and ensures the property’s potential for future growth.
9. Maximum Loan Amount and Term: Our Bridge Loan offers a maximum loan amount of $3 million, providing you with substantial financing options. You can choose between 1 or 2-year terms, depending on your investment strategy and goals.
10. Minimum FICO Score: To qualify for our Bridge Loan, we require a minimum FICO score of 620. This ensures that our financing is accessible to a wide range of investors.
If you would like more detailed information on each program or have any questions or clarifications, our team at HardMoneyDepot.com is here to assist you. Feel free to contact us for pricing, personalized guidance, or any additional information you may need.
