How to Apply for Bridge Loan in Arkansas- Bridge Loan Experts 800-826-5077
Explore the details of the best Bridge Loan Lender in Arkansas who work fast and need less documents to close the bridge loan
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- Commercial bridge loans are a short-term financing solution that's widely used within the real estate industry. Real estate developers and investors use these loans to "bridge" a gap when purchasing or renovating a wide array of properties. Even businesses in other industries may take out a commercial real estate bridge loan if they purchase a new property.
What Situations is Commercial Bridge Loan Financing Well-Suited For?
Commercial real estate bridge loans are available for virtually any type of property, and their features make these loans well-suited for several different situations:
Renovating Properties: Real estate investors frequently finance properties with unamortized commercial bridge loans, which are paid back in one lump known as a "balloon payment". A loan provides capital for purchasing and renovating a property, and the loan can be paid off when the property is sold or refinanced.
Investing in Properties: Property investors may initially finance the purchase of a high-demand property and later transfer the financing to a traditional mortgage. Underwriting for these loans usually takes less time than obtaining a traditional mortgage, allowing investors to close on a property more quickly.
Moving a Business: Businesses that are relocating may use a commercial bridge loan so that they can purchase a new property before selling their current one. This eliminates the risk of having a purchase fall through after a purchase and sale agreement has been executed, which can leave a business without facilities.
Financing With Poor Credit: Sponsors who have poor credit may be able to qualify for a commercial bridge loan even if they can't get a traditional long-term commercial real estate loan.
We can close much faster than traditional banks with conventional loans. Forget searching for pay stubs and old W-2s, we do not verify your income or employment. On top of that our tech-forward platform eliminates time-consuming tasks, speeding up the process to close.
Here’s how to get started:
- Get pre-qualified online - With just a soft credit pull, we can give you the confidence & clout to make offers on hard found deals. PRO TIP: you can download your pre-qual letter right online
- Find your property - the greater the upside, the better!
- Call us - Let’s review the numbers–leverage our experience & expertise for your project, we’ve seen it all!
- Submit your application - Like what you see? It's GO time. With no application fee or upfront costs, there’s no obligation for you.
Benefits of a Bridge Loan in Arkansas
Bridge Loans Are Approved And Funded Quickly
Real estate investors who haven’t previously used Bridge Loans are amazed at how quickly a bridge loan is funded compared to banks. Bridge loans Arkansas can be funded with 3-5 days if needed. Compare that with 45+ days it takes for a bank to fund. This speedy funding has saved numerous real estate investors who have been in escrow only to have their original lender pull out or simply not deliver. It is also ideal for real estate assets that have a rehab component. There are perfect situations for a bridge lender to step in, provide financing quickly and save the deal.
Bridge Loans Have Few Requirements
Banks also have a list of issues that will raise a red flag and prevent them from even considering lending to a borrower such as recent foreclosures, short sales, loan modifications, and bankruptcies. Bad credit is another factor that will prevent a bank from lending to a borrower. Most banks will not lend to a borrower who already has 4 mortgages even if the borrower’s credit is perfect with no other issues.
Bridge Loans Provide Funding For Projects That Cannot Be Financed Elsewhere
Bridge Loans provide many loans to commercial real estate assets that conventional lenders such as banks have no interest in financing. A good example of this is a fix and flip loan. These projects involve a real estate investor purchasing a property with a short term loan so that the investor can quickly make the needed repairs and updates and then sell the property. In most cases, the real estate investor only needs a 12 month loan. A 12 month term doesn’t work with a bank’s business model. Banks want to lend money for the long term and are happy to make a small amount of interest over a long period of time.
Arkansas is a southern U.S. state bordering the Mississippi River. It’s known for its abundant park and wilderness areas, with terrain encompassing mountains, caves, rivers and hot springs. The rugged Ozarks region in its northwest has hiking trails and limestone caves such as Blanchard Springs Caverns. Its capital, Little Rock, hosts the Clinton Presidential Center, housing Bill Clinton’s presidential archives. Arkansas is known for its lakes, rivers, and hot springs, extreme weather and frequent storms, rice and poultry production, and the only active diamond mine in the United States. The Natural State is one of the best places to relocate thanks to a low cost of living and a high quality of life that includes plenty of outdoor recreation, employment opportunities, a strong arts scene and more. The people who come here tend to love it and end up staying a long time.
We are serving all the locations of Arkansas including Little Rock, Fort Smith, Fayetteville, Springdale, Jonesboro, Rogers, Conway, North Little Rock, Bentonville, Pine Bluff, Hot Springs, Benton, Sherwood, Texarkana, Russellville, Paragould, Bella Vista, Jacksonville, Cabot, West Memphis, Searcy, Van Buren, Bryant, Maumelle, El Dorado, Siloam Springs, Hot Springs Village, Centerton, Forrest City, Blytheville, Harrison, Mountain Home, Marion, Magnolia, Malvern, Camden, Batesville, Arkadelphia, Little Rock, Fort Smith, Fayetteville, Springdale, Jonesboro, Rogers, Conway, North Little Rock, Bentonville, Pine Bluff, Hot Springs, Benton, Sherwood, Texarkana, Russellville, Paragould, Bella Vista, Jacksonville, Cabot, West Memphis, Searcy, Van Buren, Bryant, Maumelle, El Dorado, Siloam Springs, Hot Springs Village, Centerton, Forrest City, Blytheville, Harrison, Mountain Home, Marion, Magnolia, Malvern, Camden, Batesville, Arkadelphia
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