Video: 5 Things helping you in Fast Closing your Bridge Loan in Pennsylvania
See Explainer Video about the 5 Things helping you in Fast Closing your Bridge Loan in Pennsylvania.
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Benefits of a Bridge Loan in Pennsylvania
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 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.
Bridge Lender in Pennsylvania
As a leading Bridge lender, Foundation CREF offers loans to real estate investors throughout the state of Pennsylvania. With a deep background in both real estate investing and lending, our team of originators and underwriters can help you find and fund your next Pennsylvania deal. Foundation CREF Offers both short-term real estate loans as well as long-term rental loans to qualified investors who wish to expand their portfolio of properties in Pennsylvania. Whether it is a quick cosmetic flip or a full rehab - you want a lender that can push your deal through with speed and flexibility. For Pennsylvania Real Estate Investing, Foundation is that lender.
Foundation’s shareholders include several institutional asset managers of defaulted residential properties that provide investors and borrowers access to investment properties before they go to the foreclosure auction and before they are listed on the MLS.
Our Pennsylvania Bridge Rates
- Single Family Homes, Condominiums and Multifamily Apartments
- Loan Amount - $50,000 to $3,000,000 per property
- Interest Rates - Starting at 9.5%
- Interest Only Payments
- Loan Fees - 1.0% to 3.0%
- Loan Term - 12 to 24 Months, Prepayable at Any Time
- Loan Advance - Up to 85% of Purchase Costs (Purchase Price + Closing Costs), Up to 100% of Rehab Budget
Flipping Real Estate in Pennsylvania
With off-market deal flow, easy-to-use analytical tools and the right capital partner, flipping properties in Pennsylvania can be straightforward and profitable. Join Foundation CREF to find your next real estate deal and fund it with the experts. No matter where in Pennsylvania you invest, Foundation is your ideal Bridge lending partner.
Bridge loan Pennsylvania are taken to bridge the gap while the borrower is securing a much longer and a permanent financing solution. These loans offer immediate cash flow to meet current obligations, while they are waiting to get access to a larger fund.
Businesses and individuals can be faced with an immediate need for cash, while they are waiting for a loan approval. They can then apply for a bridge loan, during the waiting period, to meet their commitments. These loans are typically offered for a short-term, of say 6-12 months, and come with very high interest rates, given the high risk involved. They also require substantial security and collateral to back them.
This is very crucial to businesses, where new business opportunities could be hindered due to lack of funds. This loan helps you to access liquidity to grab any unexpected business opportunity. For individuals too, this loan provides relief to meet any contingencies they may face while carrying out a property sale or any such huge transaction.
About Pennsylvania–
Pennsylvania, officially the Commonwealth of Pennsylvania, is a U.S. state spanning the Mid-Atlantic, Northeastern, and Appalachian regions of the United States. Pennsylvania has been one of the nation’s most important industrial centers for coal, steel and railroads, especially before War World II. The state is also famous for its leading mushroom production, which reaches 425 million pounds annually with a value of more than $330 million. Between being home to some of the best universities in the world, high-ranking health institutions, rich history and four beautiful seasons (save for a pretty cold winter)… Pennsylvania offers all the essentials for a high-quality of life.
We are serving all the locations of Pennsylvania including Philadelphia, Pittsburgh, Allentown, Erie, Reading city, Upper Darby, Scranton, Bensalem, Lower Merion, Lancaster city, Bethlehem city, Abington, Bristol township, Millcreek township, Lower Paxton, Haverford, Harrisburg, Middletown township, York city, Altoona, State College, Penn Hills, Wilkes-Barre city, Hempfield township, Manheim township, Northampton township, Cheltenham, Norristown, Chester city, Falls township, Lower Makefield, Lower Macungie, Warminster, Bethel Park, Radnor, Mount Lebanon, Cranberry township, Upper Merion, Ridley, Ross township, Hampden, North Huntingdon, Tredyffrin, York, Williamsport, McCandless, Shaler, Whitehall township, Spring township, Monroeville, Easton, Plum borough, Springettsbury, Lower Providence, Horsham, Upper Dublin, Montgomery township, Lebanon city, Exeter township, Moon, Derry township, Susquehanna township, Swatara township, Hazleton, Philadelphia, Pittsburgh, Allentown, Erie, Reading city, Upper Darby, Scranton, Bensalem, Lower Merion, Lancaster city, Bethlehem city, Abington, Bristol township, Millcreek township, Lower Paxton, Haverford, Harrisburg, Middletown township, York city, Altoona, State College, Penn Hills, Wilkes-Barre city, Hempfield township, Manheim township, Northampton township, Cheltenham, Norristown, Chester city, Falls township, Lower Makefield, Lower Macungie, Warminster, Bethel Park, Radnor, Mount Lebanon, Cranberry township, Upper Merion, Ridley, Ross township, Hampden, North Huntingdon, Tredyffrin, York, Williamsport, McCandless, Shaler, Whitehall township, Spring township, Monroeville, Easton, Plum borough, Springettsbury, Lower Providence, Horsham, Upper Dublin, Montgomery township, Lebanon city, Exeter township, Moon, Derry township, Susquehanna township, Swatara township, Hazleton
