Bridge Loan For
Finance Your Next Transaction With Wilshire Quinn
- A nationwide Direct Lender, not a broker
- Bankruptcy and 1031 Exchange Funding
- Pre-approval in 24 hours
- Typical funding times in 5-7 days
- Loan amounts up to $10,000,000
- Foreign Nationals OK
Purchase | Refinance | Cash-Out | Rehab | 1031 Exchange
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Or Call Us At 619-872-6000
|CLOSING TIME||Typically 5-7 days|
|LOAN SIZE||$200,000 to $10,000,000|
|LTV||Up to 60% LTV and 60% of ARV for rehab loans, not to exceed 90% of the purchase price|
|LIEN POSITION||First Trust Deeds Only|
|LOAN TERM||3-24 months|
|INTEREST RATES||8.5% – 11%|
|AMORTIZATION||Interest only payments|
|ORIGINATION FEES||1-5 points based on location and property, LTV, credit worthiness of the borrower, loan amount and term|
|LENDING AREAS||Nationwide, in metropolitan and coastal areas|
Single Family Investment Properties
Industrial & Warehouse
Hotels & Motels
Healthcare & Assisted Living Facilities
Special Purpose & Mixed Use
Parking Garages & Lots
Mobile Home Parks
Our Lending Program:
Funding in 5-7 days
Loan Amounts from $200,000 to $10,000,000
Commercial & Residential Real Estate Nationwide
Purchase, Refinance, Rehab, Cashout Refinance, Fix-n-flip, Blanket Loans
Foreign Nationals OK
Loan Term: 3 – 24 months
Advantages of a Bridge Loan
Whether you are looking to secure financing for a purchase, refinance, cash out, or a multiple property loan; here are some advantages to using a bridge loan.
- Speed / Closing Time: Qualifying and being approved for a bridge loan is a faster process than applying for a traditional loan or an equity loan. Wilshire Quinn typically funds bridge loans in 5-7 days.
- Credit score not a major factor: Asset based lending means we base our loan amounts on the value of real estate, such as an investment property, multifamily building, or commercial building, rather than strictly on your credit score and debt to income levels.
- Opportunities: Having a bridge loan allows you to secure opportunities that you might otherwise miss out on in the housing market. Showing a seller you have been pre-approved by a private money lending institution can help you win an offer. Read more about this here: Using private money lending to win real estate bidding wars.
Recently Funded Hard Money Loan Transactions
El Monte, CA
Loan Amount: $4,750,000
Loan Type: Refinance
Property Type: Industrial
Term: 12 Months
Loan Amount: $5,000,000
Loan Type: Blanket Cash-Out Refinance
Property Type: Commercial Office & Industrial Warehouse
Term: 24 Months
Loan Amount: $400,000
Loan Type: Cash-Out Refinance
Property Type: Multi-Family
Term: 12 Months
Know Our Borrowers!
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F.A.Q’s – Bridge Loans
After receiving a signed term sheet, Wilshire Quinn typically funds a loan in five to seven business days.
We will consider a wide variety of loan types including: purchase, refinance, cash-out refinance, partnership buyouts, rehabs, 1031 exchanges and value-added acquisitions.
You can either complete our online loan application, email or call us. We would prefer to talk through your loan scenario directly, as we can determine in a matter of minutes, once we have a few simple questions answered, if we have interest.
Most of our portfolio is in California but we do have the ability to lend nationwide. We strongly prefer to lend in major-metropolitan areas.
A bridge loan is a real estate backed loan where a borrower receives funds secured by equity in their property (or properties). Bridge lenders like Wilshire Quinn are mainly focused on the equity in the property as opposed to borrower credit and financials. Bridge loans are typically short term ranging from 6 months up to 2 years.
Bridge lenders like Wilshire Quinn primarily focus on a property’s equity in the property to secure the loan. The borrower’s credit is considered, but is not a primary determinant in the underwriting process.
Our interest rates typically range from 8.5% to 10.5%, interest-only. Lender origination points typically range from 1% to 5% of the loan amount. The borrower pays for standard closing costs (title, escrow, legal).
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