Bridge Loans from $1,000,000+
Select Commercial is pleased to introduce its new nationwide Bridge Loan program.
• The effects of the recession have left a lasting impact on the commercial real estate markets. Many properties today are still underperforming or have expiring mortgage debt in excess of the value of the property today. These properties may need expert restructuring and turn around in order to be refinanced in today’s market. At Select Commercial, we are able to provide short-term commercial real estate loans, or “bridge loans”, to aid the owners and purchasers of underperforming and un-stabilized properties.
• Our commercial real estate bridge loans offer quick closings and may be used to acquire a property in foreclosure, lease-up an underperforming property, allow a borrower to take advantage of a discounted payoff, refinance a maturing loan, reposition a property, rehab a vacant property, pay back taxes and liens, meet seasoning requirements, meet tight closing deadlines, or take cash for tenant improvements.
• Our commercial bridge loan program is available in major markets nationwide with a minimum loan size of $1 million. We offer these loans for both commercial and multifamily properties. Our loans can be made with non-recourse to the borrower and we offer interest only payments. Our bridge loan program can be used to help a borrower to position a property for permanent long-term financing in the future.
Some examples of our bridge loan program include:
A real estate investor has the opportunity to purchase a foreclosure property for a substantial discount. He needs to close fast and cannot wait 60+ days to close.
Thanks to a bridge loan from Select Commercial, the borrower is able to buy this property.
A borrower is offered a significant discount to pay their mortgage off early.
A bridge loan from Select Commercial allows the borrower to complete this transaction.
An investor seeks to purchase an apartment building with a low occupancy rate. The property is not stabilized and he is advised by his bank that he needs a higher occupancy rate in order to qualify.
With a bridge loan from Select Commercial the investor is able to purchase the property, and use some of our cash to upgrade the property and increase the occupancy. Six months later the property is stabilized and ready for long-term rate financing.
To learn more, please call us today at 877-548-9454.
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on apartments, 75% on commercial (90% with SBA)
• Terms and amortizations up to 30 years
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation