What are Residential Bridge Loans?
These types of loans 1-4 units, encompassing everything from a home or a condo to a quadraplex. A real estate investor commonly pays cash for the residence then needs to rehab it to rentable or sellable quality. In order to do this, the investor may take a 6-month bridge loan that leverages the equity he already has in the fully-owned residence, to pay for improvements. Lastly, the borrower exits the bridge loan via conventional financing or sale of the property. Use the Residential Hard Money Lender Search Engine to find lenders that can provide financing for a scenario like this.
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NOTE: FIXVEST is NOT a direct lender and NOT a mortgage company and NOT a finance broker. Our company rather helps to form a trusted referral network and works with among the best affiliate companies that are properly licensed and have valid sources of reliable funding. Furthermore, Fixvest is not responsible for any financial decisions that you make as a borrower or a business / broker or as an investor.