Standard Bridge Loans FAQ
What states do you provide bridge loans in/lend in?
What documents do you require to get started?
What are your terms/rates?
How long does it take to close?
How much money do I need to get started? What leverage do you provide?
Do I need an entity to purchase a home or can I purchase as an individual?
Will I qualify for your loans?
How will I know the status of my application?
Are rehab loans fully funded at closing?
What is your draw process like?
You can choose to obtain your draw in one of two ways. You can either take out small amounts as the renovation is in progress or wait until it is entirely done in order to make one drawdown for the full amount of the project. Draw fees start as low as $179 and can go up to $199 for each draw.
The process for obtaining a draw is simple. First, make a request in your borrower dashboard. Next, we request a third party inspection. Upon satisfactory review of the inspection report and collection of additional construction documentation (if applicable), the draw administrator releases funds within 3 to 5 business days from the time of the review.