What is a Bridge Loan?
A Bridge Loan is used for short-term financing. The term of the loan is typically 2 years or less. It is called a bridge loan because it bridges the gap between two predefined events, such as the point of property acquisition and the point of resale and/or refinancing of the property. Monthly payments on bridge loans are commonly interest-only with a balloon payment of the outstanding balance due at the end of the loan term.

What is Private money?
Private money mortgage financing refers to the source of the funds. Private money financing typically comes from individuals or small groups of investors. The alternative is Institutional money, which originates from banks, large Wall Street type investment firms, and government-backed companies such as Fannie Mae and Freddie Mac.

What is the difference between a Bridge Loan and Hard Money?
The two terms are often interchanged, but they are different in this regard: A hard money loan is underwritten based on a borrower’s “hard” equity in the property, typically without regard to exit strategy; a bridge loan requires substantial “hard” equity in the property, but also focuses on defining a specific and realistic point of loan exit for the borrower.

Why do experienced Real Estate Investors frequently use Bridge Loans for their projects?
There are numerous reasons why Experienced Real Estate Investors typically choose private funding over institutional funding: (1) Institutional funding is commonly not available and/or does not meet the needs of real estate investors, and (2) Investors need fast turn- around time, an easy closing process, no prepayment penalties, and other loan terms specifically designed for an investment project. All of these elements are offered in the Bridgewell Bridge Loan Program.

How long does it take Bridgewell to process an investor bridge loan?
Our turn-around time for bridge loans is typically 3-5 business days.

Do you need great credit and/or full documentation of income to qualify for an Investor Bridge Loan?
No, Bridgewell looks at credit reports and income, but qualifying decisions are based on many other factors that contribute to a “Borrower’s ability to succeed”. We qualify both the Borrower and the Property. We analyze a combination of the Borrower’s experience, cash on hand, cash flow, credit, and exit strategy. In addition, we evaluate the Property construction, location, condition, loan-to-value, floor plan, and general desirability. Strength in some areas of qualifying may offset weakness in others.

Do we finance owner-occupant properties?
Bridgewell currently provides financing for Investment properties only. Many of our Investor borrowers sell or lease/option-to-buy to Owner Occupants, but Bridgewell does not provide financing directly to Owner Occupants.

What type of properties does Bridgewell loan on?
We specialize in residential single-family, detached homes in the Greater Central Florida area.

How do we help Investor Borrowers succeed?
Bridgewell is committed to the success of our customers. Buying right, quality improvements, and active marketing are major keys to success for a real estate investment project. Bridgewell senior staff are seasoned professionals in all these areas. We give our customers access to on-line support tools, personal consulting and assistance throughout all phases of their project, “free of charge”. We are in the business of helping our customers succeed!