Multi Family Bridge Loans
Picture this: you’ve found a one-of-a-kind real estate investment opportunity but don’t have the money to make an all-cash offer. Or perhaps you’ve come across the perfect apartment complex (or other multifamily property), but it needs significant rehabilitation before you can secure conventional multifamily financing. Both of these scenarios are where multifamily bridge loans come into play.
What is a Multifamily Bridge Loan?
Bridge loans help property owners quite literally bridge the gap in time from when they secure a loan to when they are ready to take action with their property. While they can last anywhere from 3 months to 3 years, most bridge loans fall in the 12-24-month range.
Why Get a Multifamily Bridge Loan?
Two of the main reasons investors secure multifamily bridge loans are:
- Construction completion: Multifamily bridge loans can keep a property financially secure while construction is still in effect. Whether it’s for upgrades or putting the final touches on a property, a multifamily bridge loan provides the financing your property needs to stay a float.
- Borrower or property legal, financial, and credit issues: Some people turn to multifamily bridge loans when all cash is not an option for purchasing a property.
Multifamily bridge loans are ideal for repositioning a property so that the investor can eventually get the competitive permanent financing they want or sell the project after the property has been stabilized. That’s why many people use multifamily bridge loans for fixer-upper apartment complexes. These loans keep the property in question financed while the investor completes the upgrades to the point where they can lease out the property.
Plus, unlike other loans that are based on parameters like the income the property generates and guarantor credit, multifamily bridge loans are based on the value of the property. They tend to close quickly and make funds available when other lines of credit may not be.
About Our Multifamily Bridge Loans
The beauty of multifamily bridge loans is that they are designed for unique circumstances. The lender and the borrower can work together to develop a customized loan agreement that satisfies both parties. InstaLend knows all about tailoring multifamily bridge loans to our investors’ specific needs and is excited to partner with you.
Why You Should Apply for Multi-Family Bridge Loans at InstaLend
Find competitive rates and a customized approach to your real estate investment needs with InstaLend. We understand that when investors who want to finance their next property want to take action. That’s why we provide fast lending for everyone. Our loans are for you, whether you are just starting out on your first real estate investment journey or are an experienced investor.
Use InstaLend’s asset-based loans and streamlined application and approval process to secure the funding you need. Work with our experts and you’ll be well on your way to diversifying your real estate investment portfolio.
Interested in learning more? Feel free to call us at 929-523-8947. Our team will be happy to chat with you about our lending products.
Read to get started? We encourage you to apply for a loan or send us a request for pre-approval.