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Bridge Loans
Loan amount ranges from: $1,000,000 - $100,000,000
Peoples Choice offers commercial bridge lending programs for developers, owners and real property investors who need short term commercial mortgage financing. Bridge loans last for up to three years. Commercial bridge loans are used as a transitional real estate loan asset, for experienced borrowers when quick financing is desired.Typical Commercial Real Estate Bridge Loans are for acquisition, development or rehabilitation financing for transitional assets with upside potential with an emphasis on existing or rehab properties.
Eligible Property Types: Commercial real estate properties with value added opportunities for bridge loans and hard money loans including multifamily loans, retail loans, multi-tenant industrial loans, multi-tenant office loans, hotel loans, and manufactured housing loans.
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Maximum loan to cost:
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80% to 90% of cost; may be funded in one or more advances. |
| Maximum loan to value: |
65% to 80% of the real estate completed property value |
| Minimum DSCR: |
1.0 DCR provided borrower has funded adequate interest reserves. |
| Holdbacks: |
In some cases the loan will be made at the future value but a portion will be "held back" until improvements are completed or vacancy is decreased or some other value-add goal is met. |
| Security: |
First Mortgage on the property. |
| Term: |
1 to 3 years with extensions as necessary, up to 60 months. |
| Amortization: |
Interest only available |
| Prepayment terms: |
No prepayment penalties |
| Projects: |
All commercial property types can be financed. Developer and contractor must have experience at this type and scale of development. |
| Recourse: |
Yes, with exceptions |
| Closing costs: |
Borrowers are responsible for all due diligence and closings costs (e.g. Appraisal, Phase 1 Environmental, site inspection, title, etc) |
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Call or E-mail Us today for a free commercial loan quote.
Request Information
Peoples Choice Commercial Lending - 999 Douglas Ave Suite 3331 - Altamonte Springs, FL 32714
Office Phone: (407) 478-6000 Fax: (407) 478-6001
Email: Info@mycommercialloanadvisor.com
Commercial lending throughout the U.S. and Internationally
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