Is a real estate bridge loan the type of financing you need for your next project?
A real estate bridge loan, sometimes referred to as a “swing loan,” “gap financing,” or “interim financing,” is a short-term loan that “bridges the gap” or gets a borrower from point ‘A’ to ‘B’ by leveraging the equity in a property they already own. It enables a borrower to purchase a new property before permanent financing is obtained or another property is sold.
Real estate bridge loans are temporary in nature and can be used for a variety of business opportunities in addition to buying real estate investment properties.
If your project does not meet traditional lenders’ standards or you simply need to act quickly, a real estate bridge loan may be perfect for you. Bridge loan terms range from 6-12 months.
Great deals go quickly! Choose a lender who understands your project, is quick, flexible and dependable – choose Walnut Street Finance.