45 Day Bridge Loans
Our 45 Day Bridge Loan is a great tool for any real estate wholesaler or real estate investor in Colorado or Minnesota. It is a cheaper alternative to hard money to bridge a gap to your end goal. Some reasons you might consider a 45 Day Bridge Loan include:
- Flipping a property with a 30 day deed restriction (common when working with short sales)
- Flipping a short sale in Colorado (Most short sale flips in CO require a 14 day title seasoning period according to the Colorado Foreclosure Protection Act)
- Have other financing lined up but they cannot get you closed in time (you can use this loan to
buy you the time you need) - If you need to make a quick repair to qualify for a permanent loan
- Other wholesale transactions
The loan is structured similar to our 9 month Rehab Loan but costs much less. Here are the highlights:
- 45 day term with the option to extend
- 1.5 points in origination
- We loan 70% of the after repaired value if we are going to escrow the repair funds (you may or may not use the repair money in escrow)
- We loan 70% of current value if no repairs will be made
- In-house underwriting and servicing so you get our personal touch and we can close your deal fast
- Points and fees can be financed
- Never make a payment
What if I need more than 45 days?
If you need more than 45 days there is a built in extension. The loan will convert to our standard 9 month term automatically. You will be assessed the 3.5% extension fee payable when the loan is paid in full.
Interested in the 45 Day Bridge Loan? Apply Now!
