Bridge Loans for Kansas City Investors
Reliable Short-Term Bridge Lending When You Need It Most
Transition periods are always challenging, especially in the world of real estate investments. Ideal properties may come up before you are ready to buy or take longer to sell than expected, so you need a way to bridge the financial gap between closings. That’s where the short-term loan programs from Crossroads Investment Lending comes in! Our expert bridge loan lenders can help you obtain the financing you need with a quick and easy bridge loan.
What is a Bridge Loan?
A bridge loan is a temporary, short-term loan that’s used to finance a property until permanent financing is found or until the property is sold. Essentially, you are borrowing money from the property you are trying to sell to help fund a new real estate investment. Once your current property sells, you can pay off the bridge loan.
This type of loan is a popular choice for buyers who purchase a new investment property before putting their existing property on the market. It is also useful if you need to sell now but the investment buyer can’t close for several weeks.
The Benefits of Bridge Loans
- Allows for the purchase of a new property before selling your existing property
- Reduces buying restrictions
- Can make your purchase offer more attractive
- Fast turnover rate from start to finish
- Flexible and adaptable payments
- May have a few months without payments
- Full loan repayment by the time long-term financing is secured
Bridge Loan FAQs
How does a bridge loan work?
A bridge loan borrows money from an existing property to finance a new real estate investment, allowing you to purchase a new property without having to sell your current property first.
What’s the process to apply for bridge lending?
Crossroads Investment Lending has a clear and simple loan process for bridge loans. During the prequalification process, we will ask you about your current and potential properties and have you fill out the necessary documents. If everything checks out after completing our analysis, we’ll review the final numbers with you and fund your bridge loan.
How do you pay off a bridge loan?
Once your existing property sells, you can use the proceeds to pay off the bridge loan.
How long will it take to get a bridge loan?
At Crossroads Investment Lending, our bridge loan lenders can finance your bridge loan within 7-10 days of the initial request.
How quickly does the bridge loan need to be repaid?
Bridge loans are only for short-term financing, so they must be repaid in 12 months or less.
Bridge Loan Costs
Crossroads Investment Lending is proud to provide bridge loans as a clear and affordable short-term lending option.
|Property Assessment:||$450 due at time of request|
|Processing Fee:||$1,250 due at closing|
|Loan Origination Fee||Initial 3% of the loan amount, minimum $2,500|
|Additional 1% at days 31, 61 and 91, then every 60 days.|
|Can be rolled into loan if loan-to-value (LTV) criteria permits|
|Interest payments||Rolled into loan up to 90 days|
Why Choose Us?
- Family Owned & Operated
- Local Fix & Flip Finance Experience
- All Credit Scores Considered
- Close in 7-10 Business Days
- Short Term Loan for Investment Projects