How Commercial Bridge Loans Work No Upfront Fees Winston Rowe & Associates

A bridge loan, as the name implies, serves as a bridge to a more permanent financing option by allowing the borrower to build/repair his or her credit history or stabilizes the property.248-246-2243
 
 
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Location:
St. Clair Shores - Michigan - US

March 31, 2012 - PRLog -- How Commercial Bridge Loans Work No Upfront Fees Winston Rowe & Associates

Conventional commercial financing isn't particularly easy to come by if the borrower has a poor credit history or if the property is not stabilized.

Winston Rowe & Associates specializes in borrowers that have credit issue and are short on time to close a transaction. For more information about fast bridge loans you can contact them at 248-246-2243 or visit them on line at http://www.winstonrowe.com

How Bridge Loans Work:

A bridge loan, as the name implies, serves as a bridge to a more permanent financing option by allowing the borrower to build/repair his or her credit history or stabilizes the property. However, an inappropriate credit history is not the only reason that a borrower might seek a bridge loan, as there are numerous instances when commercial financing with bridge loans is sought when time is of the essence.

Bridge lenders, who are generally private lenders, essentially consider the value of the property and its viability, as opposed to going through the borrower's financial history. Therefore, what basically secures the loan is the value of the property. General repayment periods for bridge financings are in between six and 18 months, although this can also be extended to around three to five years in some cases. The funds acquired through a bridge loan are also commonly referred to as 'hard money or 'private money' loan.

Commercial Properties That Qualify:

Apartment Buildings
Senior Housing
Assisted Living Facilities
Shopping Centers
Strip Malls
Hotels & Resorts
Industrial Properties
Mixed Use
Resorts
Nursing Homes
Senior Apartments
Truck Stops
Office Buildings
Automobile Dealerships
C-Stores
Manufacturing Facilities

What You Should Expect In A Bridge Loan:

When you seek a bridge loan, expect the lenders to inquire about the reason for applying for this type of financing and exit strategy as opposed to conventional financing. As mentioned above, your reason could either be expedited clearance of funds, or to build a good credit history. Bridge capital providers would also evaluate the investment thoroughly, and this would include aspects like the collateral, cash flow, solid repayment options, the location and condition of the property you wish to invest in, etc.

While you can comfortably expect to get 60% to 65% financing for your income producing multiple tenant commercial real estate investment through a bridge loan and 50% for vacant property, but this figure could also go up to 75% depending on type of the property and cash flow it generates. However, lenders would require more equity for special purpose or single purpose properties such as gas stations, assisted living properties or Auto dealership properties. This loan to value is essentially in place so that the lender can be protected in case the borrower defaults on the given loan.

Winston Rowe & Associates has an excellent knowledge based investor resource for commercial real estate valuation and market analysis located at:

http://www.winstonrowe.com/Free_Real_Estate_Resources.html

Winston Rowe & Associates has a core focus on building long-term relationships, delivering exceptional and individualized customer service, and positioning loan products that best achieve their client’s goals. Their preemptive problem-solving approach is perfect for clients with credit and time sensitive issues.

Winston Rowe & Associates
31408 Harper Ave
Suite 147
Saint Clair Shores MI 48082
248-246-2243

Winston Rowe & Associates has no upfront free commercial loans in the following states.

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,  Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee,   Texas, Utah, Vermont, Virginia,   Washington, Washington DC, West Virginia, Wisconsin, Wyoming

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A bridge loan, as the name implies, serves as a bridge to a more permanent financing option by allowing the borrower to build/repair his or her credit history or stabilizes the property. However, an inappropriate credit history is not the only reason that a borrower might seek a bridge loan, as there are numerous instances when commercial financing with bridge loans is sought when time is of the essence.
End
Source:Staff Writer
Email:***@winstonrowe.com Email Verified
Phone:248-246-2243
Zip:48082
Tags:Money, Business, Finance, Bridge Loans, Real Estate, Mortgage, Banks, No Upfront Fees, Hard Money, Private Money Loans
Industry:Finance, Loans, Real Estate
Location:St. Clair Shores - Michigan - United States
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