What is a Bridge Loan?
Bridge loan are short-term loans, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing.
BRIDGE LOAN TERMS
Max Loan Amount:
$1,000,000
Max LTV (Loan to Value):
70%
Rate:
Starting at 9.99%
Term of loan:
12-24 months
Payments:
Monthly Interest Payments with Balloon at Maturity
Prepayment penalty:
None
Closing costs
- Origination Fee: 1-2%
- Underwriting Fee: $1,500
- Legal: $750 – $1,500
- Appraisal Fee: $500-$950
- Title Insurance and recording fees: 1% (Approximate)
property types
- Condominiums.
- Single-family residences.
- Two to four units.
- Multifamily homes.
- Townhouses.
- Condo-Hotels.
- Other property types case by case.
standard requirements
- Credit Application
- Last 2 bank statements (US bank account)
- Copy of ID and
- Borrowing Entity docs
- Purchase Contract (If Purchase)
- Property Insurance
closing time
The Usual Time to Close is 5-10 days.
qualifications
- Experience on 3 previous projects (constructions & rehab)
- Latest three months bank statements
ID, passport, (US visa for foreign nationals) - Entity Documents (LLC or Corp), EIN & OP Agreement
- Rehab budget (if applicable)
- 6 months liquidity/reserves
- Non-owner occupancy certification
- SSN for credit report and background check
Why choose Ubridge?
Fast Closing
Approval within 24-48 hours, average closing within 7-12 days. Including borrowers with no credit history.
Dedicated service
Personalized guidance and continuous follow-up that transforms your dreams into reality.
Competitive rates
We offer the most competitive rates, ensuring that your financing aligns with your financial goals.
No Prepayment Penalty
There are no penalties for paying off or partially amortizing the debt at any time.
