Speed: With a bridge loan, you can close the deal in a matter of days. This is especially important in a fast-moving market like Florida.
Certainty of closing: Forget the lengthy and laborious underwriting process associated with traditional loans – bridge financing offers a quicker, smoother route to closing.
Collateral-based: With a collateral-based bridge loan, the emphasis is shifted away from you and onto your property. Your credit score, debt-to-income ratio, or other personal issues become irrelevant to the lender as they are solely focused on assessing your property’s worth. This renders bridge loans an ideal solution for those with financial difficulties who need fast funding!
Flexible: Bridge loan lenders have more flexibility in terms of repayment schedules and interest rates.
Low risk: Since you are using your property’s equity as collateral, the lender is secured in the event of a default.
Cash out refi – Allows you to access your equity quickly.
