Bridge Loans
A Bridge loan is traditionally used to finance the acquisition of a property, as well as improvements or renovations for real estate investors or as a short term financing solution for borrowers who can not qualify with a conventional bank. In the case of a real estate investor, after the renovation is complete, the property will be sold or leased up. The loan will then be refinanced with a lower rate & longer term permanent financing. Essentially, these loans "bridge" the gap for the investor until permanent financing becomes available or the property is sold.
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Benefits of Bridge Loans
➤ Quick closing times
➤ No income or job history verification required
➤ Interest only payments
➤ 12 or 24 month terms
➤ Wide range of property types
➤ Close in your name or the name of your LLC (loan won't show on your personal credit)
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What are Eligible Properties for Fix & Flip Loans?
Single Family is classified as one to four-unit residential use dwellings including condominium, P.U.D., town homes, duplex’s, triplex’s, and quadplex’s. We lend to real estate investors looking to purchase, refinance, fix & flip, or buy in order to fix it then rent it out.
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Multi-Family is a classification of housing where multiple units (5+) for residential use are contained within one or more buildings within one community or complex.
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Mixed-Use is a type of development that blends residential and commercial uses into one integrated complex or building. At Launch Financial Group, we will lend to real estate investors in the following scenarios: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction.
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Retail is any property used for commercial retail space such as a storefront for selling goods or services. Launch Financial Group will lend to real estate investors and business owners who are looking for a loan for: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out.
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Office is a property classification which generates income from tenants comprised of businesses and professionals. Launch Financial Group will lend to real estate investors and business owners who are looking for a loan for: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out.
