It’s our experience and capabilities of looking at the big picture to leverage your best financial real estate options. Our “Yes I Can” attitude allows us to provide bridge loans to clients and looking at the whole portfolio to ensure it’s the best fit.
5 Reason to choose FBF for my bridge loan?
- We first assess whether conventional financing is a better option. Why pay higher rates and fees if a better solution is available?
- 25 years’ experience in Bridge Lending and Conventional Lending….not much we have not seen.
- Our own money…One signature is all that is required…Not tied to specific loan to values.
- Very creative with lending solutions.
- “Yes I Can” attitude.
Purpose: When you need money fast, when banks won’t lend, when you want to compete with an all cash offer, when you need a higher loan to value than a bank will lend, when your credit needs help, when you had a recent BK, Foreclosure, or Short Sale, when you fall short of money, when you have to pay an obligation now, when credit card rates are killing you…..
Process: Generally it starts with a phone call and discussion of the “need and timing. Since we are generally asset based most of the info needed and due diligence can be completed from online sources. A Conditional Approval can be issued the same day, minimal documentation is requested and unless there are unforeseen circumstances not discussed (land lease, someone else on title, challenges with the entity holding title, etc.).
Loan to Value: Up to 100% Loan to Value (LTV), or Combined Loan to Value (CLTV). We will consider market value, cross collateralizations, relationships, and nature of the transaction.
Pricing: Generally starting at 9% but depends on term, LTV, property type, location, lien position, condition, etc. Risk based pricing.
Closing Time: From the issuance of a Conditional Approval to Closing can happen as quickly as 5 business days. Generally the biggest delay is obtaining a Preliminary Title Report.
Property Types: All property types considered.
Loan Size: $50,000 to $10,000,000.
Lien Position: 1st, 2nd or maybe even 3rd. Most lenders only consider a 1st position but for us our reasoning is why would we pay off a GREAT Interest Rate on the 1st or 2nd and burden you with higher payments or less cash. You are so much better off to pay the lower interest on the 1st and 2nd putting you in a better position to pay off the Bridge.
Prepayment Penalties: We are flexible depending on the circumstances.
With over $10 billion in closed loans, Fidelity Bancorp Funding located in Orange County, California has earned a reputation as a premier lender for home loans, commercial loans, multi-family loans, SBA 7(a)/504 programs and bridge loans for all asset types. We accomplish this by hiring the best people, being undeterred in the relentless pursuit of closing your loans on time, and offering a wealth of finance options to bring you the best available solution. Yes I can. Visit www.fbfloans.com | (877) 585-FUND (3863)