Private Money - Bridge Financing
ALB Commercial Capital was established to serve as a team member to the Mortgage Broker, Realtor, Investor, Lender or other service provider as a premier nationwide source for multifamily and commercial financing. Discover how we can offer you a competitive advantage with our competitive pricing, flexible terms, customized solutions, streamlined origination and processing, and quick closing capabilities.
ALB Commercial Capital offers a variety of private money short term bridge type financing loan programs customized to fit your unique needs. These Programs range in size from $100,000 to $10,000,000 + with specific requirements and pricing based on your investment objectives. We are well aware that typically an Investor in need of bridge type financing also needs to fund quickly. This is why over the years we have aligned our firm with the best bridge products that allow us to perform fast & efficiently delivering to our investors the funding needed to capitalize on market opportunities.We also develop a strategy with the borrower to do a take-out loan into conventional financing in the future and facilitate that process for the client to ensure they end up with the best conventional rates and terms available in the market.
What is A Bridge Loan?
A bridge loan is a short-term loan, usually 6 to 24 months with minimal or no prepayment penalty and is used until a borrower secures permanent financing for their real estate. Bridge loans are driven by the asset valuation instead of the borrowers’ credit or financial position and typically have faster approval and funding timelines than conventional loans. Bridge financing allows the borrower to quickly meet current obligations by providing immediate cash flow.
Why Use A Bridge Loan?
A bridge loan is one answer to some of the regular challenges borrowers face when financing real estate.
- You want to buy an investment property but don’t quite have enough money and traditional bank financing is not available and you want to close quickly.
- You applied for a loan with another lender and the loan dollars were cut and you need money quickly.
- You found a great property and you want to compete with all cash offers.
- You have bad credit and need some extra cash and traditional financing is not an option.
- You don’t show income on your taxes and don’t qualify for traditional financing.
- You have equity in properties you currently own and want to access it to purchase a new property.
- You have run out of time to secure traditional financing and need a solution that will allow you to close on time.
- You found an investment property which has significant upside, so you want to close quickly, renovate, stabilize to market rents and then sell or refinance into conventional financing.
- Apartments / Multi-Family (5 + units)
- Mixed Use
- Assisted Living Healthcare
- Non=Owner Single family Home
- Residential Income ( 2-4 Units)
- REO Flips Turnaround Opportunities
- Special Use
Types of Loan Programs
- Refinance with Cash Out
- Rehab-Renovation ( must be cross collateralized against asset with sufficient equity)
- Construction on a “Case by Case Basis”
- Asset Based Lending (Bridge Loans) rates from 6.99% to 13% at 2 to 4 pts
- Conditional Approval within 24-48 Hours
- Funding in as little as 10 days
- Up to 70% LTV or 75% LTC
- Streamlined underwriting (Typically No Appraisal, No Tax Returns)
- Broker Fee Protection
- Interest Only Payments
- Loan Terms From 6 to 24 Months
General Loan Terms
- Loan sizes from $100,000 to $15,000,000 +
- Minimum FICO of 600
- Bankruptcy and Foreclosure Considered
- Foreign Nationals Permitted
- Entity Borrowers Permitted
Checklists of Needed Items
- Application and/or Personal Financial Statement (signed and dated)
- Schedule of Real Estate Owned
- Signed ALB Credit Authorization
- One month bank statements (for down payment, liquidity, and gift funds ok)
- Purchase and sale Agreement (N/A for Refinance transactions)
- Escrow & Title (for Refinance transaction ALB will open)
- Rental Agreements
- Rent Roll
- Two Forms of Id (Patriot Act policy)
- Operating History (5+ units only)
If title is in an entity we will then need the following:
- Articles of Incorporation
- Copy of Certificate of Good Standing
- Copy of corporate Resolution and by Laws
Download our Bridge Loan Quote Form
Please use this form to submit your private money transactions. Fax to (626) 296-7771 or scan & email to firstname.lastname@example.org
Disclaimer: Loan program parameters subject to change without notice.