Commercial Bridge Loans from $1,000,000+
Select Commercial is pleased to introduce its new nationwide Commercial Bridge Loan program.
The effects of the last recession left a lasting impact on many commercial real estate markets. Many properties today are still underperforming or have maturing mortgage debt in excess of today’s available loan to value ratios. 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 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 may be available with non-recourse to the borrower and we may offer interest only payments. Our 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 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 short term 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 mortgage 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 financing 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 low-rate financing.
To learn more about a loan from Select Commercial, please call us today at 877-548-9454.
Benefits of our Commercial Bridge Loan program
• No upfront application or processing fees
• Simplified application process
• Up to 75% LTV on apartments and commercial properties
• Terms and amortizations up to 30 years – interest/only available
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation