{"id":258,"date":"2024-07-25T20:36:32","date_gmt":"2024-07-25T20:36:32","guid":{"rendered":"https:\/\/demolinks2.com\/samuel-a-shummon\/?page_id=258"},"modified":"2024-09-25T19:49:00","modified_gmt":"2024-09-25T19:49:00","slug":"bridge-loans","status":"publish","type":"page","link":"https:\/\/demolinks2.com\/samuel-a-shummon\/bridge-loans\/","title":{"rendered":"Bridge Loans"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row disable_element=&#8221;yes&#8221; css=&#8221;.vc_custom_1725650508827{padding-top: 200px !important;padding-bottom: 200px !important;background-image: url(https:\/\/demolinks2.com\/samuel-a-shummon\/wp-content\/uploads\/2024\/08\/bg.jpg?id=381) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; woodmart_css_id=&#8221;66db564961659&#8243; responsive_spacing=&#8221;eyJwYXJhbV90eXBlIjoid29vZG1hcnRfcmVzcG9uc2l2ZV9zcGFjaW5nIiwic2VsZWN0b3JfaWQiOiI2NmRiNTY0OTYxNjU5Iiwic2hvcnRjb2RlIjoidmNfcm93IiwiZGF0YSI6eyJ0YWJsZXQiOnt9LCJtb2JpbGUiOnt9fX0=&#8221; 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<u>excluded<\/u> from the departing home<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Loans from $250,000 to $5,000,000<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Borrowers may be able to <u>obtain up to 100% of purchase price plus closing costs<\/u> (subject to equity in departing home and income qualification)<\/span><\/li>\n<li><span style=\"color: #637f9b;\">One loan secured by both properties (1<sup>st<\/sup> lien on new home &amp; 1<sup>st<\/sup> \/ 2<sup>nd<\/sup> lien on departing home)<\/span><\/li>\n<li><span style=\"color: #637f9b;\"><u>No<\/u> prepayment penalty<\/span><\/li>\n<li><span style=\"color: #637f9b;\"><u>No<\/u> need to refinance \u2013 bridge loan converts to fixed loan (remainder of 30-year term) upon sale of departing property<\/span><\/li>\n<li><span style=\"color: #637f9b;\"><u>No<\/u> fixed time frame to sell departing property<\/span><\/li>\n<li><span style=\"color: #637f9b;\"><u>Max CLTV<\/u>: 75% up to $2,500,000; 70% from $2,501,000 to $3,000,000; and 65% from 3,001,000 to $5,000,000.<\/span><\/li>\n<li><span style=\"color: #637f9b;\"><u>CA Lending Area<\/u>: Alameda, Contra Costa, Los Angeles, Marin, Monterey, Napa, Orange, San Diego, San Francisco, San Mateo, Santa Barbara,<br \/>\nSanta Clara, Santa Cruz, Sonoma, Ventura<\/span><\/li>\n<\/ul>\n<p><span class=\"marg\" style=\"color: #637f9b;\">____<\/span><\/p>\n<p><span class=\"marg\" style=\"color: #637f9b;\">(*) APR based on $2.5 million loan, 90% LTV \/ 75% CLTV, full doc, max 43% DTI, and 700+ middle FICO score. Rates are current as of 8\/20\/24. Rates subject to change until locked.<\/span><\/p>\n<p><span style=\"color: #637f9b;\"><u>1-4 Residential Investment<\/u><\/span><\/p>\n<p><span style=\"color: #637f9b;\">A residential business purpose bridge loan is a short-term loan used for the acquisition or a cash-out refinance of a residential investment property where the funds are used for a legitimate business purpose. An investment property would be considered a rental property or fix-and-flip.<\/span><\/p>\n<ul>\n<li><span style=\"color: #637f9b;\">Loans from $250,000 to $10,000,000<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Rates starting at 10.95%<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Interest only<\/span><\/li>\n<li><span style=\"color: #637f9b;\">6-to-24-month term w\/ options to extend<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Up to 70% LTV<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Non-recourse available<\/span><\/li>\n<li><span style=\"color: #637f9b;\">No prepayment penalty available<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Can close fast (No appraisal, No tax returns)<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #637f9b;\"><u>Commercial<\/u><\/span><\/p>\n<p><span style=\"color: #637f9b;\">Commercial bridge loans are short-term financing solutions that help investors purchase or renovate a commercial or 5+ unit apartment property prior to obtaining a permanent loan. Commercial bridge loans are typically used for value-add opportunities or time-sensitive transactions.<\/span><\/p>\n<ul>\n<li><span style=\"color: #637f9b;\">Loans from $500,000 to $10,000,000<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Rates starting at 10.95%<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Interest only<\/span><\/li>\n<li><span style=\"color: #637f9b;\">6-to-24-month term w\/ options to extend<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Multifamily, Office, Retail, Industrial, Mobile Home Parks, Self-Storage<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Up to 65% LTV <\/span><\/li>\n<li><span style=\"color: #637f9b;\">Non-recourse available<\/span><\/li>\n<li><span style=\"color: #637f9b;\">No prepayment penalty available<\/span><\/li>\n<li><span style=\"color: #637f9b;\">Can close fast (No appraisal, No tax returns)<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #637f9b;\">If you are interested in speaking to a mortgage advisor,\u00a0<a style=\"color: #637f9b;\" href=\"https:\/\/consumer.decisionassist.com\/contactus\/?ref=FE2CE99C460E8FB5E0501EAC88101988\">click here<\/a>\u00a0to fill out our loan quote form to receive a call back.\u00a0 The form takes less than five minutes to complete.\u00a0<\/span><\/p>\n<p><span style=\"color: #637f9b;\">An advisor will contact you within 24 hours of your inquiry to discuss the best available loan program options for your loan scenario.<\/span><\/p>\n<p><span style=\"color: #637f9b;\">You can also contact us at\u00a0<span class=\"und\"><a href=\"tel:(415) 390-6750\">(415) 390-6750<\/a><\/span>\u00a0to speak to a mortgage advisor.<\/span><\/p>\n\t\t<\/div>\n\t\t\t\t<div id=\"wd-66f32a133915d\" class=\"wd-text-block wd-wpb reset-last-child wd-rs-66f32a133915d hidden-lg hidden-md hidden-sm hidden-xs text-left  texxx\">\n\t\t\t<p>Click here to obtain a loan quote or contact us at <strong><a href=\"tel:(415) 390-6750\">(415) 390-6750<\/a> <\/strong>to discuss your particular loan scenario.<\/p>\n\t\t<\/div>\n\t\t[\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row disable_element=&#8221;yes&#8221; css=&#8221;.vc_custom_1725650508827{padding-top: 200px !important;padding-bottom: 200px !important;background-image: url(https:\/\/demolinks2.com\/samuel-a-shummon\/wp-content\/uploads\/2024\/08\/bg.jpg?id=381) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; woodmart_css_id=&#8221;66db564961659&#8243; responsive_spacing=&#8221;eyJwYXJhbV90eXBlIjoid29vZG1hcnRfcmVzcG9uc2l2ZV9zcGFjaW5nIiwic2VsZWN0b3JfaWQiOiI2NmRiNTY0OTYxNjU5Iiwic2hvcnRjb2RlIjoidmNfcm93IiwiZGF0YSI6eyJ0YWJsZXQiOnt9LCJtb2JpbGUiOnt9fX0=&#8221; mobile_bg_img_hidden=&#8221;no&#8221; tablet_bg_img_hidden=&#8221;no&#8221; woodmart_parallax=&#8221;0&#8243;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-258","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/demolinks2.com\/samuel-a-shummon\/wp-json\/wp\/v2\/pages\/258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demolinks2.com\/samuel-a-shummon\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/demolinks2.com\/samuel-a-shummon\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/demolinks2.com\/samuel-a-shummon\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demolinks2.com\/samuel-a-shummon\/wp-json\/wp\/v2\/comments?post=258"}],"version-history":[{"count":32,"href":"https:\/\/demolinks2.com\/samuel-a-shummon\/wp-json\/wp\/v2\/pages\/258\/revisions"}],"predecessor-version":[{"id":485,"href":"https:\/\/demolinks2.com\/samuel-a-shummon\/wp-json\/wp\/v2\/pages\/258\/revisions\/485"}],"wp:attachment":[{"href":"https:\/\/demolinks2.com\/samuel-a-shummon\/wp-json\/wp\/v2\/media?parent=258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}