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About Bridge Loans

Bridge loans are short-term loans that "bridge" the gap between a real estate transaction and the closing of conventional financing or some other type of financial transaction. This type of loan is most commonly used in commercial applications where a business needs to obtain cash quickly but cannot close a loan with a bank for some period of time. In this scenario, they may use a bridge loan for a period ranging from a few days to a few months until they can secure conventional financing through a bank or credit union. Borrowers who seek these temporary loans from private lenders generally must pay a premium interest rate and additional fees for the convenience, and will also be expected to put property (usually real estate or machinery) up as collateral in the deal.

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What is a Deed of Trust?

A deed of trust, also called a trust deed, is a document that represents a real estate purchase where there is a loan involved. Many people who have a deed of trust simply refer to it as their mortgage or their home loan. But having a deed of trust is technically a little bit different from that. ...

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5 Steps in Obtaining a Hard Money Loan

It may seem obvious, but nobody just googles the term "hard money loan" and gets the money they need for a home or remodel. There is a process to follow, as with any loan. The fact that hard money loans are faster and require less paperwork than a standard mortgage from big banks does not mean that...

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Documents in a Hard Money Loan

While hard money loans are known for funding faster than more traditional mortgage loans and they often require much less paperwork, there is still some paperwork and there will be a closing. It's a good idea to prepare, going in with an understanding of what will happen and what kinds of documents...

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