SNCLoans.com
Commercial Bridge Financing
Everything You Wanted to Know About Bridge Financing,
But Were Afraid to Ask
Sure, you’ve seen our emails for bridge loans – but you still have some questions: such as “What is a bridge loan?” For you, we have the following Q&A:
What is a bridge loan?
A bridge loan is a quick closing short term, no prepayment penalty, interim loan.
What is a bridge loan not?
A bridge loan is not a construction, development, blanket, residential, business or hard money loan. It is not a 2nd mortgage used to acquire other properties (i.e. residential bridge loans).
Which properties are eligible?
Office, retail, multifamily, warehouse, light industrial and self storage facilities. Must be an income producing property.
Which properties are not eligible?
Construction, land, restaurants, bars, gas stations, hotels, properties requiring significant rehabilitation nor cruise ships (actual request!).
Why a bridge loan?
Bridge loans are ideal for transactions
- whose previous financing fell through
- needing to close quickly
- soon to be sold or refinanced
- shy of qualifying for long term financing or
- need additional stabilization.
What are the bridge loan terms?
Our bridge loans are fixed up to 12 months (with a potential 12 month extension) at an interest only 9.75%. There is no penalty for early prepayment. We charge a 2 point origination fee.
Download our Commercial Rate Sheet
Please call to discuss your bridge financing needs. Regards,
Security National Capital
5300 S. 360 W., Suite 310
Salt Lake City, UT 84123
Phone: 800-760-3384
Fax: 888-329-6535
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