Close Your Transaction Quickly with a Bridge Loan

Before the real estate meltdown, a private money bridge loan was used for speedy transactions or for desperate borrowers. After the real estate meltdown, lending seemed to completely dry up and real estate investors began to seek out bridge financing. Even now, banks still aren’t too eager to lend on investment properties. Those borrowers who are able to obtain new loans from banks on investment properties are either lucky or are borrowers with perfect credentials. Banks are looking for every reason to decline a loan and bridge financing is in a higher demand than ever. These days, a bridge loan is still used for speed, but more and more credit-dinged borrowers are opting for bridge financing.

New to the concept of bridge financing? These loans aren’t loans used to build bridges but rather, a bridge loan is a private money loan that originates from a non-bank lender. There are many upfront fee scams in this area of lending so it’s important to steer away from fake lenders posing as real lenders. Read the rest of this post on our blog and learn more about using a bridge loan to finance your real estate: http://privatemoneyutah.com/bridge-loan-stepping-stone/