BRIDGE LOANS
Most property types accepted
No minimum credit score!
Up to $25,000,000
The bridge loan program is our most popular loan product due to it's flexibility; mainly due to having no minimum credit score. Aside from no minimum credit score, there are additional benefits such as no prepayment penalty, flexible underwriting guidelines, and convenient monthly interest-only payments to keep payments low. Like all of our loan programs, applying for our Bridge Loan does not have any minimum time in business requirement, no minimum monthly revenues, and absolutely zero income documentation; a true asset-based loan.
ELIGIBLE PROPERTY TYPES: Single Family, Condo, Townhouse, 2-4 Units, Multifamily 5+, Mixed-Use, Office, Retail, Self-Storage
BRIDGE LOAN OVERVIEW
Single Family, Condo, Townhouse, Multifamily, Mixed-Use
Reasons to choose a Bridge Loan
-
Purchase a property
-
Convert equity into cash
-
Consolidate business debts
-
Foreclosure bailout
-
Property renovations
-
Purchase a business
-
Startup business funding
-
Working capital
-
Business expansion
-
Purchase inventory
QUICK QUOTE
We understand the importance of making informed financial decisions, which is why we offer an instant decision on your pre-approval, ensuring you're not left waiting. Our process is designed with your peace of mind as a priority: there's absolutely no risk, no obligation to proceed, and, most importantly, it will not impact your credit score in any way.
We've tailored our pre-approval form to be as straightforward and user-friendly as possible, allowing you to explore your options without any pressure or commitment. This no-strings-attached approach empowers you to make the best decision for your financial needs and future, on your terms. Whether you're looking to manage cash flow, invest in new opportunities, or simply need a financial safety net, GreenBridge Loans is here to provide the clarity and confidence you need to move forward.
Additional Bridge Loan Program Details:
-
Properties zoned for commercial use (Multifamily 5+ units, Mixed-Use, Retail, Office, Warehouse, Self-Storage) are subject to a minimum $250,000 loan amount.
-
Maximum 75% Loan-to-Value (LTV) for residentail properties only, and is reserved for applicants with a 675+ credit score. If credit score is below 675 then a maximum 65% LTV is in effect for all property types.
-
Commercial properties located in Michigan, Illinois, Mississippi, Louisiana are reviewed on a case-by-case basis.
-
Minimum loan amount is $250,000 if credit score is less than 675
-
First-time real estate investors are capped at 70% LTV
-
Foreign investors are capped at 65% LTV
-
The above parameters are common questions we receive and meant to help provide further insight into the qualifying process. The above details are not all-encompassing; additional underwriting guidelines apply. Your loan officer will review your scenario in its entirety to ensure loan program eligibility.
Bridge Loan
-
What credit score is required for a stated income loan?Options are available for applicants seeking no minimum credit score, and it will depend on the loan-to-value (LTV) ratio and property type. There is no minimum credit score required if the LTV is 50% or less. For LTVs between 50.01% and 60%, a minimum credit score of 600 is needed. If the LTV exceeds 60%, a credit score of 650 is required.
-
What types of commercial properties are eligible for stated income loans?Commercial: multifamily (5+ units), mixed-use buildings, office spaces, retail properties, warehouses, and self-storage facilities.
-
What does “stated income” mean?Stated income loans allow borrowers to qualify without providing traditional income verification documents.
-
What is the minimum loan amount for stated income loans?For commercial real estate there is $250,000 minimum loan amount. For residential investment properties we have a $75,000 minimum loan amount.
-
What loan terms are available?Loan terms can be up to 30 years, with both fixed rate and interest-only rate options.
-
Is there a maximum loan amount for stated income loans?The maximum loan amount is $6,000,000 for commercial real estate.
-
What is the loan-to-value (LTV) ratio for stated income loans?The maximum LTV is 75%. The maximum combined loan-to-value (CLTV) is 90%, which only applies if you have, or will have, a second mortgage.
-
Do you have a minimum occupancy rate?Yes, at least 70% of the units must be rented. For example, a 20-unit multifamily building would require at least 14-units (70%) to be currently rented to tenants.
-
What documents are required to apply?We offer light documentation. Standard documents include a completed loan application, photo ID, proof of property insurance, and lease agreement(s). Additional documentation may be required depending on the specifics of your scenario.
-
Are stated income loans available for self-employed individuals?Yes, self-employed individuals often benefit from this program since no tax returns are needed.
-
How long does it take to get approved?Approvals can be issued within 48 hours, with funding timelines varying based on loan conditions.
-
Can I use a stated income loan for commercial properties?Yes, these loans are a great option to finance commercial properties. Fixed rates allow for stability and predictable cash flow.
-
Are there prepayment penalties?Prepayment penalties may apply depending on the loan terms.
-
What industries are eligible for stated income loans?Any borrower meeting the credit and property requirements can qualify, regardless of industry.
-
Can I refinance with a stated income loan?Yes, stated income loans can be used for refinancing.
-
Do stated income loans require a down payment?Yes, down payment requirements vary based on the LTV and credit score.