Commercial Lender Link offers short-term commercial bridge loans advanced to cover the period between the termination of one loan and the start of another. It is arranged generally to complete a purchase before the borrower receives payment from a sale , or before a long-term loan is made available upon fulfillment of its requirements. Also called bridge finance, bridging loan, or gap financing.
We look for Fico scores above 600, DSCR of 1.2 and LTV’s to 85%. Typical LTV’s are 65% TO 70%. Most major metropolitan areas and their suburbs are considered, including Brooklyn, Long Island, and New York City.