Bridge Loan Criteria
If you and your property meet our qualifications, we’ll fund your deal.
We can tailor a loan to fit your purchase and rehab.
A bridge loan is also often referred to as a fix and flip loan. In short, bridge loans are a short term financing options widely used to acquire and rehab properties for the purposes of reselling or holding. Bridge loans are typically for a 12 month term or less and the payment terms are usually interest only with a balloon payment at maturity.
Bridge loans are a great tool for real estate investors to acquire properties quickly and take advantage of the increased value to continue to grow their portfolio.
The following types of properties are eligible for LendSimpli bridge loans:
- Single family residence
- 2 – 4 unit properties
- Multifamily 5 – 20 units
- Photo ID
- Purchase Agreement
- Itemized Rehab Budget & Schedule, if applicable
- Bank Statement/Money Market/Brokerage Account to Show Liquidity
- Proof of Experience, if applicable
- Entity Documentation
Other documents may be requested based on the individual circumstances and collateral.
No. There is no prepayment penalty on LendSimpli bridge loans.
Low Cost Financing
Our rates are competitive and our origination costs are low. We never charge an application fee.
Simple Funding Process
With an easy to use secure portal and common sense underwriting, we are able to close more deals and open more doors for our borrowers.
Work Directly With The Underwriting Team
We built our secure borrower portal for ease of use. Our underwriting team communicates directly with you to provide feedback and updates throughout the process. You choose how you’d like to work via web, mobile or through email.
We Want To Earn Your Business
Our Team is Here For You
At LendSimpli, our team takes pride in providing financing resources to our borrowers to allow them to continue to grow their real estate portfolios. Schedule a call and take 5 minutes to see how we can assist you in achieving your investing goals.Call Us NowSchedule Call