Bridge loans continue to be very popular in many real estate markets. To determine whether or not they’re right for you, however, you’ll have to take into account several factors. In most cases, these loans are used to buy another property before an existing one has been sold.

You can think of a bridge loan as a provisional loan intended to “bridge the gap” between a new mortgage and the sales price of a new investment property, if the existing property hasn’t found a buyer yet. Bridge loans are secured by the existing commercial property or multifamily investment and their guidelines depend largely on the company doing the lending.

While many investors use bridge loans to purchase a property before they sell the first, these loans can also be used in many other scenarios. Purchasing a property during an auction, financing an unexpected tax liability, when you need to develop a property that’s uninhabitable and a mortgage is not available, these are just a couple of examples.

Get in touch with us and we’ll be happy to help you figure out whether a bridge loan is a good option for you.

This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group. We have over three decades of experience specializing in private money real estate loans and we pride ourselves on providing our esteemed clients a service that’s personalized while delivering low rates and closing costs. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.