Bridge or Interim loans provide you with the ability to meet your immediate financing needs until permanent financing is obtained. Bridge loans are fast, short-term, commercial real estate secured loans that can be catered to suit your specific requirements.
Bridge loans can be used for a variety of purposes. For clients that wish to obtain a HUD loan for the acquisition of a property, a Bridge loan allows for the acquisition of the property in as quickly as 30 days, and then allows for the processing of the HUD loan for the permanent takeout loan.
Bridge loans also allow for repairs to be completed to reposition the property for maximum FHA financing.
Alternatively, Bridge loans can be utilized to stabilize the property until the property qualifies for permanent financing.
Program terms are typically for a one year term with extension options available. Interest rates are floating rate, competitive Libor-based pricing with interest only payments, first mortgage secured and non-recourse except for standard carve-outs.
Asset types include; multifamily, office, retail, industrial, hotel and others on a deal by deal basis.
Timing is typically 30 days.
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Below are some of Cosmopolitan Capital Funding, LLC’s recent Transactions.