Are you searching for “Bridge Loans Phoenix” or “Bridge Loans Arizona“, while searching for lenders to loan you money to cover the interval between selling your home and buying another? If so, Brad Loans by eMortgage can help!
No matter what type of loan you are looking for, whether it be loans for residential real estate, commercial real estates, new construction, land, rehab loan or a bridge loan, Brad Loans by eMortgage has you covered. We provide hard money loans/bridge loans to cover the gap while you’re waiting on bank approved loans or loans from another source.
We offer commercial bridge loans and residential bridge loans in Phoenix, Arizona. Read more about our offerings below. Our service area in Arizona includes: Phoenix, Gilbert, Chandler, Mesa, Tempe, Scottsdale, Glendale, Peoria, Surprise and more.
Bridge Loan Definition
What Is A Bridge Loan? “A bridge loan is a short-term loan used until a person or company secures permanent financing or removes an existing obligation. This type of financing allows the user to meet current obligations by providing immediate cash flow. The loans are short term, up to one year, with relatively high interest rates and are usually backed by some form of collateral such as real estate or inventory.” Investopedia
How Do I Apply For A Bridge Loan In Phoenix Arizona?
In order to apply for a bridge loan in Arizona, you must fill out our bridge loan application here or give us a call at (602) 999-9499 to speak with one of our bridge loan officers.
How To Qualify For A Bridge Loan
Would you like to know how to qualify for a bridge or hard money loan? Have you had a Foreclosure? Are you a Non-US Citizen? Short Sale? Discharged Bankruptcy? No “Established Credit”… No Problem! Brad is Arizona’s premier ‘no credit’ or ‘bad credit’ bridge loan lender in Phoenix, Arizona ready to service all of your lending needs! Read more about how to qualify for a hard money loan here.
Bridge Loans In Residential & Commercial Real Estate
Bridge loans are used in the residential and commercial real estate industries to cover the lag or gap between sell of one property and purchase of another. View our loan programs and loan rates we offer. Use a bridge loan calculator to find out how much you can expect to pay.
Loan Rates
| LTV | Interest Rate | Loan Origination Fee |
|---|---|---|
| 70-80% LTV | 11.99 | 6 points ( $3,000 minimum) + $1,920 |
| 12.99 | 4 points ( $2,000 minimum) + $1,920 | |
| 13.99 | 2 points ( $1,000 minimum) + $1,920 | |
| 14.99 | 0 points + $1,920 |
| LTV | Interest Rate | Loan Origination Fee |
|---|---|---|
| 60-69% LTV | 10.99 | 6 points ( $3,000 minimum) + $1,920 |
| 11.99 | 4 points ( $2,000 minimum) + $1,920 | |
| 12.99 | 2 points ( $1,000 minimum) + $1,920 | |
| 13.99 | 0 points + $1,920 |
| LTV | Interest Rate | Loan Origination Fee |
|---|---|---|
| 59% LTV or Less | 9.99 | 6 points ( $3,000 minimum) + $1,920 |
| 10.99 | 4 points ( $2,000 minimum) + $1,920 | |
| 11.99 | 2 points ( $1,000 minimum) + $1,920 | |
| 12.99 | 0 points + $1,920 |
| LTV | Interest Rate | Loan Origination Fee |
|---|---|---|
| INVESTOR FIX AND FLIP | 14.99% | 0 points + $1,920 |
| Up to 70% LTV – 1 YEAR INTEREST ONLYUp to 100% LTV Available With Cross Collateral | SEE RENOVATIONS INCLUDED PROGRAM below re: financing of renovations and improvements. |
Traditional Loan Vs. Bridge Loan Differences
Traditional loans have a slower application process, require near perfect credit and have a longer approval process. Bridge loans on the other hand, have a fast application, fast approval and funding process. However, bridge loans typically come with larger origination fees, higher interest rates and shorter terms. Although, borrowers usually accept these terms due to the necessity of convenient access to fast money. Borrowers are pay short term higher interest rates due to the fact that the loan is short term and usually plan to pay the loan off quickly.
Example Of Bridge Loan Use
If Maria finds a new home that she wants to purchase but hasn’t sold her current home yet, she can apply for a bridge loan that will be secured by her current home, that can be used as a down payment for the home she actually wants to purchase. When the old home is sold, part of the proceeds can be used for paying off the bridge loan financing agreement.
Pros Of Bridge Loans
- Bridges The Gap Between Selling A Home & Buying Another
- Short Term Payback Options
- Choose Your Repayment Options
- Can Choose To Repay Before or After Permanent Financing
- Consistent On Time Payments Can Increase Your Credit Allowing You To Qualify For Longer Term Loans
Fill Out Our Bridge Loan Application Today
5 Star Review: “Brad Loans is the way to go. Easy – FAST and Friendly. I have taken 2 home loans out with Brad and both experiences were wonderful. Thank you Brad and Amber!” Desert Wide Properties.
If You Need A Bridge Loan In Arizona Call Us
If you would like to see if you qualify for a bridge loan, fill out our loan application today or give us a call at (602) 999-9499 to speak with our bridge loan officers.
Telephone No.602-999-9499
