Bridge
Bridge are short-term loans, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing.
Standard Loan Terms
- Max Loan Amount: $5,000,000
- Max LTV (Loan to Value): 75%
- Rate: Starting at 8.5%
- Term of loan: 12-24 months
- Payments: Monthly Interest Payments with
Balloon at Maturity - Prepayment penalty: None
Standard Closing Costs
- Origination Fee: 1-2%
- Underwriting Fee: $1,500
- Legal: $500 – $1,500
- Appraisal Fee: $500-$950
- Title Insurance and recording fees: 1%
(Approximate)
Property Types
- Condominiums.
- Single-family residences.
- Two to four units.
- Multifamily homes.
- Townhouses.
- Condo-Hotels.
- Other property types case by case
Standard Requirements:
- Credit Application
- Last 2 bank statements (US bank account)
- Copy of ID and Borrowing Entity docs
- Purchase Contract (If Purchase)
- Property Insurance
Contact Our Team at Orlando
FAQ
Do you make personal loans?
We do not make personal loans, only for real estate investment.
What kind of real estate loans do you make?
RBI finances real estate investments, both the purchase of properties for rent or second residence, as well as renovations for subsequent resale. We also finance the real estate development
What is the interest rate and loan term?
Usually, loan rates are 9% and 1.75% points. Loan terms are 12-36 months
What is the loan type?
Most our loans are interest only, which means a fixed interest is paid throughout the term and full balance at maturity. For example, a $100,000 with 12 months term and 9% rate will yield 12 monthly payments of $750 and a final payment of $100,000
What happens if I sell the property or prepay the loan before maturity?
In most of our loans there is no prepayment penalty.
