Why Partner with us for Bridge Loans?
With Washington Capital Partners you’ll get:
- Fast interim funding for both small and large-scale projects
- Financing for properties $100k – $10 million
- Close in days, not weeks
- Free, no-commitment underwriting
It all starts with a free, no-obligation consultation with your loan officer!
Why Choose Washington Capital Partners:
Looking for a Bridge Loan to secure a property and “bridge” the gap between acquisition and longer-term financing? We can provide you with fast funding so that you can secure your next project without waiting on a bank. Our approach is to treat you as a valued business partner and prevent you from missing out on great opportunities.
Your Bridge Loan can cover more than just acquisition – if you need to begin construction before your longer-term financing can close, we will finance your construction costs as well. From there our in-house loan servicing and construction draw management teams will guide you through payments and ensure all of your draws are sent in a timely manner, keeping your project on schedule. From start to finish, our team is here to show you outstanding service and earn your repeat business.
So if you’re looking for a lender that delivers on savings, service, and speed – let’s connect for a free, no-obligation phone consultation to get started. Even if you don’t have a deal that you’re looking at, our lending experts can even help you source your next deal. Just fill out the quick form below so we can get to work for you!
Get Your Free, No-Obligation Loan Quote Today!
Everything You Want to Know About Bridge Loans:
What is a Bridge Loan?
It’s a short-term financing solution that is typically used to fund the purchase of an investment property while waiting for long-term financing to close. Investors can secure Bridge Loans for up to 12 months, often with the option to extend their loan term. It gets its name because it “bridges the gap” between the time a project is found to securing a bank loan so you don’t lose the investment property.
Why do people use them?
Investors and developers use interim financing secure projects fast while working toward longer-term financing to take over at a later date. Often times investors have to purchase a property quickly because of competition or a desired price point. Because banks have a lot of red tape and regulatory paperwork, it can take over a month for them to grant approvals which is why investors opt for a faster closing with hard money loans in this format.
Which types of projects can they be used for?
Investors commonly seek financing for these types of projects:
- Large Developments
- Condo Conversions
- Multi-Family Properties
- Mixed-Use Properties
- Commercial Properties
How long is the term?
Bridge Loans are flexible by nature, but typically last up to 12 months. Between the standard loan term and possible use of loan extensions, your loan term depends on how long you need until the bank loan can close.
How fast can they close?
In some cases, they can close within 48 hours of clear title. It’s important to have all of your materials and documents in order. The required documents are often less than new investors think, so contact us today and we can provide you a list of all the documents you need for your project.
Can you get an extension?
Yes, extensions can be granted on a case-by-case basis for your Bridge Loan.
How can I qualify for one?
To qualify, you must have the following:
- A business structure such as an LLC
- A solid exit strategy (how you plan to refinance out with a traditional lender)