INTEREST-ONLY COMMERCIAL BRIDGE LOANS
PROPERTY TYPES: All property types considered, except owner-occupied residential
LENDING AREA: Nationwide
LOAN SIZE: From $250,000 to $15,000,000
LOAN TERM: 6 to 36 months
AMORTIZATION: Interest only
INTEREST RATE: 7.00% – 11.00%
LOAN-TO-VALUE: Up to 70%*
ORIGINATION FEE: 1% – 2% of the loan amount
PREPAYMENT PENALTY: No prepayment penalty, although typically a short interest guarantee
RECOURSE: Non-recourse available.
EXPENSE DEPOSIT: Adequate to cover third-party reports, legal fees, and customary expenses
CLOSING TIME: Typically within 10-12 business days
Stormfield is a commercial bridge lender. All lending decisions are made in-house. Loans are funded on our balance sheet.
* Stormfield’s “Fix & Flip” Loan Program provides up to 85% of the purchase price, and 100% of the renovation costs, up to 65% of the after-repair value
Choosing a Commercial Bridge Lender
Choosing a Commercial Bridge Lender
Whether you are looking to finance an opportunistic acquisition or cash-out of an existing property for liquidity reasons choosing the right commercial bridge lender can be a daunting task. Interest rates and loan size, while critically important, are not the only factors that will dictate whether the lender and their commercial bridge loan product is right for you. Here is a list of questions to ask a prospective lender before making a decision:
Who services your commercial bridge loans?
Bridge loans are short term loans in which you will have significant and regular interaction with your lender or servicer. Most critically, you need to understand how Cap-Ex and/or TI draws will be processed and what the timeline will look like.