Please Call Paul Meyer (248) 515-0226 to Discuss COVID Challenged Loans
Bridge Loans are generally used as acquisition financing for real estate that is not qualified for permanent, long-term financing. Bridge loans may also be used for refinancing, repositioning or re-tenanting of owned property. Bridge loans enable the owner/developer to take advantage of timely opportunities. Bristol has correspondent relationship with numerous creditable Bridge lenders.
Qualifying types of real estate include:
Non-specific details of Bridge Loan parameters include:
- Leverage to 90% LTV
- Rates from 5% - 7.5%
- Expeditious/Efficient Turnaround - Time Sensitive
- Fast Approvals
- Hard Money/Story/Situation Lending
- Discounting Existing Debt
- Acquiring Discounted Loans
Most important is the lenders ability to exit the Bridge Loan through conventional mortgage sources, such as Fannie Mae, Freddie Mac, CMBS, Life Co., Traditional Bank.
Bristol is seeking Bridge or Repositioning Loans over $2 Million
We welcome working with attorneys, brokers, advisors, and consultants.