Bespoke Bridge Loans: Flexible Financing Solutions for Your Real Estate Ventures
What is a BRIDGE LOANS?
Purchase, Refinance or Cash out
Bridge loan is a short-term loan that's ideal for situations requiring immediate and creative solutions, such as when you need to close a deal quickly or when your project isn't ready for conventional financing.
It's called a bridge loan because it serves as a bridge between one financing period and another, while you wait to sell or secure long-term financing.
At Alto Capital, we offer faster financing with excellent terms. Simplified loans, amplified profits.
What is a BRIDGE LOANS?
Purchase, Refinance or Cash out
Bridge loan is a short-term loan that's ideal for situations requiring immediate and creative solutions, such as when you need to close a deal quickly or when your project isn't ready for conventional financing.
It's called a bridge loan because it serves as a bridge between one financing period and another, while you wait to sell or secure long-term financing.
At Alto Capital, we offer faster financing with excellent terms. Simplified loans, amplified profits.
Bridge Loan Terms
PROPERTY TYPE
Single Family: 1-4 Units / Condos
Multi Family: 5 – 30 units
Loan Amount
UP TO US$ 5.000.000 (Loan amount above US $5M subject to longer approval time and additional requirements)
TYPE OF LOAN
Interest only short term loan with a balloon payment at maturity.
PURCHASE
75%
REFINANCE
75%
CASH OUT
70%
Term Length
Up to 18 months + 6 months extension.
BASE RATE
STARTING RATE 8.75% (Interest only payments on disbursed amount)
MINIMUM FICO SCORE
700
PREPAYMENT PENALTIES
NO PREPAYMENT PENALTIES 10-14 DAYS CLOSINGS
FOREIGN NATIONALS ACCEPTED
+ 0.25 to base rate
REQUIREMENTS
- 3 months of 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
- Evidence of insurance (full replacement + 500K liability) & builder’s risk insurance (if applicable)
- Minimum Fico score of 700
- Signed loan application.
- Purchase Contract (if applicable.)
FAQ
What exactly is a bridge loan?
A bridge loan is a short-term financing option that is used to bridge the gap until a more permanent financial arrangement can be secured.
In which scenarios is a bridge loan most appropriate?
It’s ideal for situations like buying a new residence before the sale of the current one, funding projects while awaiting a long-term loan approval or seizing short-term investment ventures, to name a few.
Is collateral necessary for a bridge loan?
Absolutely. To secure a bridge loan, you must provide collateral, typically real estate or land.
Can I settle my bridge loan ahead of schedule without incurring extra charges?
Certainly! At Alto Capital, we don’t impose any penalties for settling your loan ahead of its due date.
Can I consider refinancing my bridge loan?
Indeed, in specific situations, you can refinance your bridge loan either with a similar product or with a more extended financial solution.
What if the asset I intend to offload (e.g., my residence) is sold after the bridge loan's due date?
At Alto Capital, we recommend reaching out to us a month before your loan’s expiration. We’ll guide you through the best alternatives, which might involve prolonging your current loan or opting for a different financing solution.