Bridge Loans

Short-term (usually one to five years) loan advanced to cover the period between the termination of one loan and the start of another. It is arranged generally to complete a purchase (such as a new property) before the borrower receives payment from a sale (of the old house), or before a long-term loan is made available upon fulfillment of its requirements (such as commissioning of a facility or a plant). Also called bridge finance, bridging loan, or gap financing.

Bridge Loan Lending Guidelines:

Property Types:             All property types considered, except owner-occupied residential
Lending Area:               Nationwide
Loan Size:                     From $2,000,000 through $100,000,000.
Loan Term:                    12 to 60 months
Amortization:                Interest only usually
Interest Rate:                 From 7.99%
Loan-To-Value:              Up to 75%
Prepayment Penalty:     On a case by case basis
Recourse:                       Typically, there will be recourse to Sponsors
Expense Deposit:           Adequate to cover 3rd party reports, legal fees, & customary expenses

We will review all loan submissions within 24 hours of receipt. For fastest processing and an immediate response please send an executive summary and PFS to info@1uplending.com For certain transactions, additional information may be required.

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