Bridge Loans – 5 Reasons to Get a Bridge Loan2018-07-30T23:44:26+00:00

Bridge Loans

A bridge loan is a short-term loan used in both commercial and residential real estate. Homebuyers sometimes take out bridge loans, which will give them the money to help them buy a new home, investment property or commercial building. Bridge loans are typically used until a person or company either secures permanent financing with a traditional lender or removes the obligation through the sale of the property. Bridge loans generally have higher interest rates than conventional or bank loans, and are written for shorter periods of time.

Wilshire Quinn is a direct private money lender specializing in bridge loans. Closing times average 5-7 days for a bridge loan with Wilshire Quinn.

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Hard Money Lenders (Home) » Bridge Loans – 5 Reasons to Get a Bridge Loan

What Is a Bridge Loan?

Bridge loans are temporary, short-term asset-based loans through which a borrower receives funds secured by real property. Bridge Loans help home and real estate buyers secure funding and allow for transition time when selling one home and buying another. Here are five aspects of a bridge loan:

  • Collateral: Your current home or investment properties you own is used for collateral.
  • Short term: 6-24 month payoff time is typical.
  • Interest rate: Usually about 9-12% is typical.
  • Repayment penalties: Not typical but it depends on the loan scenario.

5 Reasons to Get a Bridge Loan

  1. Buying at auction: If you are buying a home at auction, a bridge loan can provide the funds you need to win the bid without having to come up with cash. You will need to have enough equity in your primary home or own it free and clear.
  2. Buying a rental property: This group buys a property with the intention of renting it out, letting it appreciate over time, and/or selling it after prices increase. Typically these types of borrowers use our Fund as a short term solution, or bridge, until they can refinance with a traditional bank with lower rates.
  3. Flippers: These investors, also known as “flippers,” often find the conventional lending world reluctant to finance their projects. The properties usually need repair, and most conventional lenders are not interested in making loans on properties in need of major repair.
  4. Relocating: If you need to relocate to another city, bridge financing can quickly provide the necessary capital to purchase a new property before you sell your current property.
  5. Business Owners Looking To Pull Cash Out Of Existing Properties: Sometimes people have significant equity in properties they own; they may even own a property with no debt at all. Owners can pull cash out of their properties quickly with a loan from Wilshire Quinn, the proceeds of which can be used for business purposes.
Bridge Loans Get a pre-Approval

Speak with an underwriter about a Bridge Loan. Give us a call: 619-872-6000

Private Money Bridge Loan Program

Are you looking for short term financing through a Bridge Loan?

At Wilshire Quinn we control the lending process and can provide fast answers and quick closings for your purchase, refinance or rehab project. We are a direct private money lender financing bridge loans for commercial and residential real estate. We lend bridge loans nationwide from $200,000 to $10,000,000.

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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.

  1. 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.
  2. 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.
  3. 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.
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Know Our Borrowers!

We finance private money loans nationwide.

Great team to work with! Very efficient process which allowed us to meet a fast approaching refinance deadline with time to spare. I would highly recommend working with them.
Ankur Patel
Ankur Patel
01:45 05 Mar 19
Matthew and his team are the most professional efficient team I have ever worked with in all my 25 years in Finance they took a very tough loan and converted it into $400,000 in working capitol in less than 2 weeks the level of service was unmatched Matthew Mielke is an absolute rock star to deal with if he tells you he will call you at 3 the call happens at 2:30 thank you Matthew for all your help!Jason Roberts
Jason Roberts
Jason Roberts
22:42 31 May 18
This is a superb company to do business with.The customer service is always fast and accurate and gets the job done..When we needed help we had it in record time (three different times) to solve our financial needs...We can't say enough good things about doing business with Wilshire Quinn. Marvin and Arde Harris
arde harris
arde harris
16:16 17 May 18
A couple of years ago Chris Garcia and the team at Wilshire Quinn Capital were introduced to me through a good friend and business partner who has known Chris for many years. WQ has twice since then provided the ideal funding for my projects. They keep it simple. The deal terms, loan docs, appraisals and everything involved in the closing were clear, easy and fast. No headaches. The deals were fair. There have been no fine print surprises. They were prompt, clear in communications, flexible and friendly. They were patient through delays caused by me and others. I would highly recommend Wilshire Quinn to anyone.
Robert Noble
Robert Noble
19:15 16 May 18
Wilshire Quinn was extremely professional and they have the staff to make sure all issues are addressed quickly.
I’ve dealt with them for 3 years and I’ve always had a great experience. No one should have any reservations about working with them.
arnie rissman
arnie rissman
21:36 15 May 18
Whether you are investing in secure first trust deed notes or need a hard money loan from a respected private lender, I recommend Wilshire Quinn.
Kris Pattison
Kris Pattison
18:07 28 Mar 18
Kris Lindley
Kris Lindley
21:56 26 Mar 18
I'm not one to typically write reviews but I was so impressed with Wilshire Quinn Capital's service I felt it needed to be shared. I'm a mortgage broker and I recently referred a client to Wilshire Quinn who didn't qualify for any of our programs and needed to fund quickly on a house. I spoke with Matt Mielke and he was not only able to provide a great loan for the client but funded it with time to spare! The client thanked me for connecting him with Matt and as that was the only way he could finance his dream home. It was nice to be able to refer a hard money lender that did what he said he was going to do. I highly recommend Wilshire Quinn Capital for any hard money lending.
Travis Smith
Travis Smith
20:45 21 Mar 18
The professionals at Wilshire Quinn are the best of the best. If you're not able to use a traditional lender, give these guys a call. They're extremely professional, knowledgeable and efficient!
Michaela Keilty
Michaela Keilty
17:47 21 Mar 18
The best!! They are trustworthy and professional. I highly recommend!!
Dan Fulkerson
Dan Fulkerson
23:26 19 Mar 18

F.A.Q’s – Bridge Loans

How long does the loan process take?2018-05-30T22:54:06+00:00

After receiving a signed term sheet Wilshire Quinn typically funds a loan in 5 to 7 business days.

What type of properties do you lend on?2018-05-30T22:54:31+00:00

Wilshire Quinn will consider a wide variety of property types including: office, retail centers, industrial, hotels, parking lots/structures, condo inventory, entitled land, multi-family properties, non-owner occupied single family homes, vacation homes and rentals, primer loan, bridge loan.

What types of loans does Wilshire Quinn originate?2018-05-30T22:54:44+00:00

We will consider a wide variety of loan types including: purchase, refinance, cash-out refinance, partnership buyouts, rehabs, 1031 exchanges, value added acquisitions.

How do I submit a loan request?2018-05-30T22:55:08+00:00

You can either complete our online loan application, email or call us directly. We would prefer to talk through your loan scenario as we can determine in a matter of minutes, once we have a few simple questions answered, if we have interest.

What is a bridge loan?2018-05-30T22:51:02+00:00

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.

What if my credit score is low?2018-05-30T22:53:22+00:00

Bridge lenders like Wilshire Quinn primarily focus on the equity in the property to secure the loan. The borrowers credit is considered but is not a primary determinant in the underwriting process.

What is the cost of a bridge loan?2018-05-30T22:57:05+00:00

Our interest rates typically range from 9% to 12%, interest-only. Lender origination points typically range from 2% to 5% of the loan amount. The borrower pays for standard closing costs (title, escrow, legal).

Call us now at 619.872.6000 and speak directly to a decision maker. Get a pre-approval within 24 hours and funding in about 5-7 days.

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Wilshire Quinn Capital, Inc.
2550 Fifth Avenue, Suite 1070
San Diego, CA 92103

P: (619) 872-6000
F: (619) 872-6010

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Customer Service

At Wilshire Quinn you’ll get the friendly guidance you need to help you through the private money loan process. We’ll make sure the loan terms work for you and for your project or we won’t fund the loan. Submit a loan scenario today to quickly hear back from one of our representatives.

Wilshire Quinn Capital Rated 5 / 5 based on 18 reviews. | Review Me