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How Short Term Bridge Commercial Lenders Work - No Advance Fees
Winston Rowe & Associates is an industry leader in the Commercial Real Estate Bridge Loan market place. 248-246-2243.
Winston Rowe & Associates is an industry leader in the Commercial Real Estate Bridge Loan market place.
At Winston Rowe & Associates, a principle is always available to speak with prospective clients. They can be contacted at 248-246-2243 or email them at email@example.com
They also have many other commercial real estate financing solutions that meet almost every need. Check them out online at http://www.winstonrowe.com
They do things a little differently;
Winston Rowe & Associates has a core focus on commercial investment properties in the major metropolitan areas; however they will also consider cash-flowing properties in other primary markets Nationwide.
Winston Rowe & Associates prepared this news article to provide prospective clients with an overview of the best practices and uses of short term bridge loans for commercial real estate assets.
What is a bridge loan?
The simplest definition is; bridge loans are short term financing solutions, designed to “bridge” the gap until you can obtain long term financing for your commercial property.
Commercial bridge lenders are in most cases, private money also known as hard money lenders. These lenders pool their private investor’s money and then lend in what is known as the secondary market. Which are commercial loans that traditional banks won’t touch.
When do you need a bridge loan?
You need financing in weeks not months.
Purchasing a distressed commercial property
A balloon payment is coming due
Cash out for improvements to your building
You bank has offered you a discount on your current mortgage
There is an opportunistic investment; however the long term financing can’t be in place for 90 days.
How long does it take to close a bridge loan?
Commercial bridge loans can fund very quickly, because they are private investors. Generally in a couple of weeks with complete documentation.
To fund your commercial bridge loan quickly. The bridge lenders will require supporting documentation to perform due diligence and the underwriting. It’s important that you follow the lenders instructions and submission procedures. If you don’t, your loan will never fund.
What are the typical rates and terms for a bridge loan?
These types of loans are for higher risk commercial real estate transactions. Therefore bridge loans carry higher interest rates; generally around 10% or more.
Winston Rowe & Associates best business practices process ensures that their clients receive lighting fast funding with the most aggressive rates and terms available, while managing every step of the financing process from document collection to commitment negotiation and closing.
Winston Rowe & Associates provides no upfront or advance fee commercial bridge 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