Bridge Loans: Hard Money Capital Bridge Loan Program
Bridge Loans are short term financing needed by real estate investors or real estate developers. Most borrowers of bridge loans do have good to great credit but still opt to get a hard money loan for bridge loans because of fast financing without the massive amount of paperwork required by banks and traditional commercial lenders.
Apartment Building Bridge Loans
One of the most popular bridge loans program at Hard Money Capital Group are apartment building bridge loans. Real estate investors purchase a vacant apartment building in need of repairs. These investors come to Hard Money Capital Group for a hard money loan for the acquisition and construction of the apartment building. Once they close on their apartment building, the investor gets to work. Once the apartment building is complete, the investor rents out the rehabbed apartment units. The investor then applies for an end loan where the interest rates are more than half of the bridge loan they are currently paying with Hard Money Capital Group. The apartment building now has over a dozen traditional commercial lenders that are interest in doing the deal where before, when the apartment building was vacant and needed work, no traditional commercial lenders wanted to touch the deal no matter how strong the borrow was. The real estate investor then refinance the apartment building and pays off Hard Money Capital Group. The real estate investor then goes on for another search for another apartment building where he repeats the process with Hard Money Capital Group.
Hard Money Capital Group will lend via bridge loan on any type of property. However, an exit strategy is required and Hard Money Capital Group can assist with the end loan with the services of Lending Network ( visit Lending Network at www.lendingnetwork.org ), Hard Money Capital Group’s sister company and end lenders on residential and commercial mortgage loans. Whether it is an apartment building, apartment complex, mixed use building, strip malls, office building, medical building, storage, shopping centers, or industrial building, Hard Money Capital Group will aggressively process, underwrite, fund, and service the bridge loan and help borrowers with the exit strategy with an end loan.