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Commercial Bridge Loans
Kevin Green is your go-to source for direct commercial hard money loans in California. Contact me, so I can help you quickly get the financing you need.
I am Kevin Green, a Broker Associate with over 2 decades of experience in commercial mortgage bridge loans and residential mortgage originations. Along with Ryker Capital, I help others to also invest in real estate property by offering commercial bridge loans for purchase or refinance. In fact, we specialize in providing funding to real estate investors throughout California.
We are bridge lenders committed to providing reliable, fast, and friendly services. Thus, we promote excellence and education in the private lending sector. Also, we take pride in offering customized services from our client’s perspectives.
Why Choose Kevin Green and Ryker Capital for Your Commercial Bridge Loans?
I am Kevin Green, a broker associate with over 2 decades of experience in commercial mortgage bridge loans and residential mortgage originations. My passion for real estate is what made me an active investor. Along with Ryker Capital, I help others to also invest in real estate property by offering commercial bridge loans. In fact, we specialize in providing funding to real estate investors throughout California.
We are occupied bridge lenders committed to providing reliable, fast, and friendly services. Thus, we promote excellence and education in the private lending sector. Also, we take pride in offering customized services from our client’s perspectives.
Commercial Bridge Loans Articles
Commercial Bridge Loan Rates
Rates from 7.99-12% with points starting at 1.5-3.5% of the loan amount.
1st, 2nd, and 3rd mortgages (case by case).
Loans up to 75% of the purchase price, appraised value, or Broker opinion of value
No Minimum Fico scores as we look at credit history.
Higher LTV”s on a case by case basis with cross collateral.
Commercial Bridge Loan Program
Loan Application Approval Timeline
Same day approval on your loan available
No appraisal fees (in most situations) and no hidden junk fees
6 to 36 months
Time to Fund Loan
As few as 3-5 days if needed
Loan to Value (LTV)
Up to 75% of current value of property
What is a Commercial Bridge Loan?
Because people use many terms to address commercial bridge loans, it is important not to get this loan type confused with others. Some commercial bridge loan lenders call them commercial hard loans, while others call them private money loans. No matter how you address these types of loans, they are asset-based loans offered by lenders like us, to those looking for commercial financing. The application process for bridge commercial loans comes with the least paperwork and fast approvals.
Furthermore, we base the money we loan you on the commercial property value you use as collateral. This means you don’t have to have a high credit score, since this loan isn’t as strict as other loan types when it comes to your credit report.
This type of loan is ideal for borrowers with lower credit scores or those who want to avoid a difficult and long approval process. Therefore, if your credit score is lower, your income history limited, or are having a hard time providing documentation to verify your finances, and you need a loan fast, this might be the best solution for you.
The Benefits of Commercial Bridge Loans
Bridge loans for commercial properties offer many benefits such as flexibility, out of the box underwriting, and a fast and easy application process that we can complete in one day. You can also apply with a limited income or lower credit scores, and we can provide you with financing on most real estate investments and commercial properties, which some traditional lenders just won’t finance.
You can get approved in hours and loans closed in days rather than months. You also have the privilege of working with a direct lender without any broker or middleman to slow your loan down or complicate things.
All of California, with specific emphasis on the SF Bay Area, Lake Tahoe, Sacramento County, Ventura County, Santa Barbara County, Los Angeles County, Orange County, and San Diego County. Outside of California, I have 1 million dollar minimum loan size requirement. I will lend on purchase or refinance transactions for all types of commercial properties and SFR 1-4 unit owner and non-owner occupied properties. Check list of our lending areas here.
Lendable Property Types
Commercial, multifamily/apartment buildings, mixed use, SFR 1-4 units, condos/townhomes, office, industrial, retail, medical buildings, special use, land, and construction.
Fast and Easy Process for a Commercial Bridge Loan
Applying for a commercial hard money loan is pretty straightforward. Here is a sample process:
Contact me over the phone. You can reach me at 415-793-3403. You can also send an email at Kevin@rykercapital.com, so you can schedule an initial consultation.
Pre-Qualification: Before the loan process actually begins, and is usually the first step after initial contact is made. In a pre-qualification, the lender gathers information about the borrower and property being used as collateral for the loan. The property itself is typically the single most important factor when determining whether or not to move forward in the loan process. Other factors, to a lesser degree, include borrower credit and financial stability.
Filling Out a Loan Application: This is where the application really starts. For some other types of loans, the application takes place a day or two after your pre-qualification. For commercial hard money loans, the application takes place on the same day. The lender will ask you for authorization to check your credit rating (in case it’s required), a letter of explanation stating the purpose of the loan, and bank statements or financial statements as proof of affordability. The lender is required to give you a Good Faith Estimate (GFE). The GFE estimates the loan costs, and it’s required to be given to you no later than three days after your application. Also, a Truth in Lending (TIL) statement must be given to you by the lender. This is a disclosure of the loan’s terms and the interest rate charged for the loan.
Processing: Once the application is finished, your loan will begin processing. If it’s required, your credit report will be ordered, and the appraisal on the property that will be used as collateral for the loan is completed. This information — along with verification of employment, income, and assets — will be used to determine if you qualify for the loan. After collecting all requirements, the processor will then submit all the documents to the underwriter for review.
Underwriting: The underwriter assesses whether the risk of lending to you is acceptable. They will review all of the documentation collected by the processor and determine whether or not to approve your loan. If it’s approved, they will also determine what interest rate you qualify for as well as the terms of your loan.
There are three Cs’ that an underwriter will analyze:
Credit: Your score, history of on-time payments, and how much debt you carry (your debt to income ratio)
Capacity: Your ability to pay off your mortgage based on your monthly income and bills
Collateral/Value: If the property is worth as much or more than the amount you’re borrowing
On a typical loan, these three Cs’ are analyzed in detail during the underwriting process. The good news for hard money loans is that underwriters focus more on the collateral value rather than your capacity or credit, making it easier to get approved.
Approval: Once approved, you will be provided with a commitment letter that tells you all the terms and conditions of your loan. It is important to review and go through this letter with your lender to make sure you understand everything. You will typically need to purchase insurance that covers damage, fire, and theft before the loan closes.
Closing: The final stage is where you will sign all the loan documents and pay any closing costs. The process is similar to when you are applying for a loan. After your lender signs all the documents, an escrow agent will hold onto the loan until everything is paid off.
We are proud members of the “American Association of Private Lenders” and the “California Mortgage Association”. In San Francisco, CA we helped with a $2 million dollar loan, in San Joaquin County we gave out a $1.1 million dollar loan, and in Orinda, CA we assisted with a $945 thousand dollar loan, and much more. We have already provided a lot of funding to help commercial and residential mortgage brokers, real estate investors, and commercial and residential realtors in California and we can help you too.
Our loan program focuses on three key items: the real equity in your property, the borrower’s ability to service a new loan, and the exit strategy of the borrow, meaning how the loan will be repaid.
We offer the following loans to companies and individuals: refinancing, equity cash out, acquisition, bridge loan owner occupied, commercial and residential, and construction, rehabilitation, and remodeling (no ARV loans).
We are always straightforward with you. If we can’t help you, we will refer you to another private lender who may.
Get the Funds You Need Fast and Easy
Let us help with the funding of your next investment or project with a bridge loan. Fill out the contact form below now to learn more about bridge loans.
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