what are bridge loans? the interest rate and repayment period explained
DESCRIPTION
Loan Brook, INC is a professional hard money loan provider in CA. Bridge Loans are asset-based loan financing through which the borrower receives funds secured by real property leveraged between 65%-80% Loan-to-Value. For more details about hard money financing visit https://loanbrook.com/programs/hard-money/TRANSCRIPT
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What are bridgeloans? Theinterest rateand repaymentperiodexplained
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Content
Bridge LoansInterest RatesRepayment PeriodContact Us
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Bridge LoansBridge Loans are asset-based loanfinancing through which theborrower receives funds secured byreal property leveraged between65%-80% Loan-to-Value.
Rates range based on risk, there isno prepayment penalty andrepayment is usually interest only.Borrowers must illustrate theability to repay the loan within 12-18months.
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Interest Rates
The interest rate for bridge loansrange from 9.99% to 12%. Thebridge loan can be availed for thefollowing property types SFR/1-4/CONDO/5+/COMMRECIAL.
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REPAYMENT PERIOD
These loans do not have any prepaymentpenalty, but has a lender processing fee of$1,495 Lender + $500 Doc Prep.
Bridge loans can be availed for 12 months fixedterm and the closing timeframe is usually 2weeks for bridge loans.
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Website: https://loanbrook.com/programs/hard-money/
Phone: 818-697-8220
Address: 23273 Ventura Blvd, Unit B Woodland Hills, CA 91364
CONTACT US
https://loanbrook.com/programs/hard-money/