Short-Term Bridge Loans
Multifamily, Investment, and Commercial Bridge Loans provide competitive rates for buildings and borrowers in need of short-term financing for 12 to 36-months.
PURPOSE
Income producing and owner-user property purchase and refinance transactions. Cash-out available. Used to stabilize properties, rehab, then refinance into a permanent loan or sell.
PROPERTY TYPES
Multifamily, Manufactured Home Communities, Office, Retail, Industrial, R&D Flex, Self-Storage, Hotel/Motels & More.
LOAN SIZE
$100k to $100,000,000+
ICS services capital requests from $100k to over $100MM.
TERMS
1 to 3-Years
Fixed & Variable Rates
Interest Only
Asset-Based
RATES
Based on Prime or SOFR
Rates are based on location, building quality, and leverage.
MAX LOAN-TO-VALUE
Multifamily 5+ Units 75%
Commercial 70%
Residential Investment 1-4 Unit 75%
Debt Service Coverage Ratio
Varies by Project
PREPAYMENT
Bridge loans typically do not have a prepayment penalty.
FEES / POINTS
1% to 5%
Points vary based upon property location, loan size, property type, income, and borrower financials.
CLOSING TIME-FRAME
7 - 21 Days
Loans are typically closed in 7-21 days from application and receipt of all documents.
APPRAISAL OPTIONS
A full appraisal is usually required at this time unless an appraisal has been completed by a nationally recognized appraisal company within the last 6-months. In some cases the appraisal may be waived depending upon the funding lender.
DOWN PAYMENT
Down payment purchase funds must be verified via bank/investment statements.
CUSTOMIZATION
Recourse and non-recourse available. Additional income property types considered on a case-by-case basis. Underwriting deposits may be required depending upon property location and deal type. Terms and conditions are subject to change prior to final loan commitment.
Reserves
Bridge loans do not require cash reserves in most cases.
What is a Bridge Loan?
A bridge loan is a short-term loan used until a person or company secures permanent financing or removes an existing obligation. This type of financing allows the user to meet current obligations by providing immediate funds and/or cash flow. The loans are short term, typically 1 - 3 years, with relatively high interest rates and are usually backed by some form of collateral, such as real estate or inventory.
