What are bridge loans? The interest rate and repayment period explained
Jun 06, 2021
What are bridgeloans? Theinterest rateand repaymentperiodexplained
Content
Bridge LoansInterest RatesRepayment PeriodContact Us
Bridge LoansBridge Loans are asset-based loanfinancing through which theborrower receives funds secured byreal property leveraged between65%-80% Loan-to-Value.
Rates range based on risk, there isno prepayment penalty andrepayment is usually interest only.Borrowers must illustrate theability to repay the loan within 12-18months.
Interest Rates
The interest rate for bridge loansrange from 9.99% to 12%. Thebridge loan can be availed for thefollowing property types SFR/1-4/CONDO/5+/COMMRECIAL.
REPAYMENT PERIOD
These loans do not have any prepaymentpenalty, but has a lender processing fee of$1,495 Lender + $500 Doc Prep.
Bridge loans can be availed for 12 months fixedterm and the closing timeframe is usually 2weeks for bridge loans.
Website: https://loanbrook.com/programs/hard-money/
Phone: 818-697-8220
Address: 23273 Ventura Blvd, Unit B Woodland Hills, CA 91364
CONTACT US
https://loanbrook.com/programs/hard-money/