Welcome to Priv Funding
PrivFunding's Bridge Loan Program: Your Solution for Short-Term Financing
Are you in need of short-term funding to bridge the gap in financing your next project or refinance an existing one? Look no further than PrivFunding’s Bridge Loan Program. We offer borrowers an effective solution to the unique challenge of timing project cash flows with our no-rehab bridge loans featuring highly competitive market rates and terms.
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Streamlined Application Process for Quick Loan Approval
To expedite the approval process and get your loan closed quickly, we have automated our application process from start to finish. Our goal is to get the money into your hands as soon as possible. If you’re curious to learn more about our Bridge Loan Program, keep reading.
Understanding Bridge Loans: A Flexible Short-Term Financing Option
A bridge loan is a short-term real estate loan, typically with a duration of 12-24 months, that closes faster than term loans or conventional loans. It is an excellent choice for real estate investors as it not only closes quickly but also has more relaxed guidelines, requiring less underwriting and documentation.
Bridge loans are secured by the asset (real estate) and are often utilized in both residential and commercial properties. They can be used for a variety of purposes, such as financing the purchase and rehab of an investment property (Fix and Flip loan), cash-out refinancing, or assisting with the purchase of commercial properties like office buildings, retail spaces, or apartment complexes.
The Benefits of Bridge Loans
Why should you consider using a bridge loan for your real estate investments? Here are some compelling reasons:
Straightforward and Easy
Bridge loans offer short-term financing for real estate investors who prefer to finance their investment properties with a Fix and Flip loan or a Cash Out Refinance loan rather than buying in cash.
Quick Access to Funds: Conventional loans often have strict
Quick Access to Funds: Conventional loans often have strict qualifications that limit your access to funds. With a bridge loan, there are fewer guidelines, underwriting requirements, and restrictions, providing you with rapid access to the funds you need.
Suitable for Every Real Estate Investor:
Options for Various Property Types
At PrivFunding, we offer bridge loans tailored to your specific investment needs. Our Bridge Loan options include Fix and Flip, Cash Out Refinance, or Purchase Money loans.
Bridge Loan Summary
Here are the key details of our Bridge Loan Program:
- Property Types: Single-Family, Condos, Townhomes, Multi-Family, Commercial, Mixed-Use, Office, Retail, Industrial, Warehouse
- Rates Starting at 9.99%
- Loan Amounts: $100K – $5M
- Up to 75% Loan-to-Value (LTV)
- Blanket Loan Options Available
- Fixed or Adjustable Rates
- 9-24 Month Loan Terms
- Interest-Only Payments
- Purchase, Refinance, or Cash Out options
- Foreign Nationals Eligible
- No Prepayment Penalty Option Available
Why Brokers Should Work with an Asset-Based Lender for Bridge Loans
As a broker, collaborating with an asset-based lender like PrivFunding expands the mortgage options you can offer to real estate investors. By partnering with us, you can provide loan solutions that cater to their unique circumstances and cash flow. Unlike traditional mortgage lenders that rely heavily on employment history, tax documentation, and credit scores, asset-based lenders focus on the value or potential value of the property, making it easier for investors who may have trouble qualifying for traditional mortgages.
Advantages of Working with an Asset-Based Lender
Working with an asset-based lender allows brokers to:
Serve a Wider Range of Borrowers
Asset-based lending opens doors for real estate investors who may not qualify for traditional loans. You can help investors purchase properties that wouldn’t be approved for a conventional loan.
Expand Your Client Base
By offering alternative loan options, you can attract a broader clientele. Investors appreciate having access to loans that suit their unique situations, fostering greater satisfaction and loyalty.
How to Get Started with an Asset-Based Lender
Getting started with PrivFunding as an asset-based lender is a simple and efficient process. Contact us today to discuss how we can work together to provide loan options that meet the needs of your clients. Our dedicated loan officers will be in touch within 24 hours to explore mutually beneficial opportunities.
Why Real Estate Investors Should Choose Asset-Based Lending
PrivFunding is the leading private money and NON-QM mortgage lender for real estate investors in the United States. We take pride in tailoring the perfect real estate mortgage loan options for each borrower’s specific needs nationwide. We understand the value of your time, which is why our loan officers can provide pre-approval within 24 hours, unlike banks that pass your application to other banks, causing unnecessary delays.
As an asset-based lender, PrivFunding simplifies and expedites the loan approval process, often finishing weeks ahead of our traditional competitors. With no junk fees, upfront fees, or tax returns required, we prioritize transparency and efficiency. Whether you’re an experienced borrower or a first-time investor, we are here to guide you through our expedited loan approval process. No expertise is needed, and we serve as your one-stop shop for all your real estate investment loan needs.
Bridge Loan Lenders for Beginners
First-time real estate investors often struggle to secure financing through traditional mortgages or lines of credit, unsure of where to start when seeking funding for their investment property. This is why many beginners and experienced investors choose bridge loans. As an asset-based loan program, bridge loans focus on the Loan-to-Value (LTV) ratio of the property rather than the borrower’s credit scores, employment history, or other documentation.
Unlike other private loans, asset-based bridge loans require less underwriting and have fewer guidelines and criteria. There is no minimum FICO requirement for borrowers. Real estate investors who are unable to secure financing through traditional mortgages can turn to private money lenders like PrivFunding for funding solutions.
Understanding the Difference Between Bridge Loans and Term Loans
When investing in real estate, choosing the right loan type is crucial. Bridge loans, also known as gap financing, interim financing, or swing loans, are a type of hard money loan. They are short-term loans, typically lasting 3 to 6 months, but can be longer depending on the situation. Bridge loans are used when investors want to purchase a new property while their previous property is still on the market. These loans bridge the gap between payments, combining the mortgages of two houses and providing flexibility until the old property is sold.
Since bridge loans are short-term, they often have higher interest rates than term loans and can be more challenging to obtain. Lenders typically offer bridge loans to borrowers with excellent credit ratings and low debt-to-income ratios. It’s essential to consider the risks and market conditions before opting for a bridge loan, as there may be limited protections if the sale of the old property falls through.
In contrast, term loans are long-term loans between borrowers and lenders, with repayment occurring over a specified period through regular payments. These soft money loans are usually offered by banks or mortgage companies and depend on the borrower’s credit score and property Loan-to-Value (LTV) rather than their income. Term loans come with fixed or adjustable interest rates and can have durations ranging from one to ten years or more.
Consider your financial situation and goals when deciding between bridge loans and term loans. Bridge loans are suitable for short-term real estate investments, while term loans provide stability and lower interest rates for longer-term financing needs.
Start Your Journey with PrivFunding Today
If you’re ready to explore the benefits of bridge loans and asset-based lending, contact PrivFunding to discuss your loan options. We are committed to providing loan solutions that meet your unique circumstances and investment goals.
