Bridge Loan
Bridge loans offered by Blue Bay Capital are the perfect fit for an investor who is looking for a way to "bridge" the time they need to either sell the property or, more ideally, to refinance into a DSCR loan. Our no-credit-check bridge loans mean the investors will be the highest possible for their refinance. Below are some highlights of our Bridge loan program:
-
We offer both purchase and refinance loans for this loan program.
-
We offer loan amounts for this program as little as $50,000 up to $1,000,000. We need to see 25 - 30% down, dependent on investor proven experience.
-
We lend in the following states with our No-Credit loan program:
- Florida
- Georgia
- Alabama
- Louisiana
- Mississippi
- Texas
- Arkansas
- Tennessee
- Kentucky
- North Carolina
- South Carolina -
We offer loan terms as little as 6 months up to 12 months, with a rate discount for loan terms less than 9 months, and rate penalty for loans longer than 9 months. 3 month and 6 month extensions are available, depending on the investors performance during the original term.
-
We only lend to entities. So the borrower must be an LLC or Corporation, owned by the real estate investor. Multi-member entities are approved, and we do not require a credit check by any of the members or entity owners.
-
We only offer loans secured to SFR (1-4 Units), Condos and Townhouses. Commercial assets will not be consider, unless they are owned free and clear and the investor is willing to cross collateralized them to reduce the capital they are bringing to the table.
-
Our rates are pretty stable, and range from 12% up to 14% annual dependent upon various factors; investor proven experience, downpayment, and term of the loan. This is an interest only loan with monthly payments expected.
-
We consider two primary metrics in this case; Purchase Price Loan to Value “PPLTV” / As-Is Loan to Value “LTV” and Loan to After Repair Value “LTARV”. Our Max PPLTV/ LTV is 75% and our Max LTARV is 70%. These metric will adjust based on investors proven experience, downpayment, and term of the loan.
-
No prior experience is required.
To find out more about our Bridge loan program, download our guidelines sheet below. We look forward to funding your next project soon!
