Bridge / Fix & FLIP LOANS

Frequently Asked questions

Short-term solution to meet your obligations until more permanent financing can be secured. 7 Day Closing!

What is a Bridge / Fix & Flip / Rehab Home Loan?

This loan type gives you a short-term solution to meet your obligations until more permanent financing can be secured. It’s available for both residential and investment properties, providing flexibility in terms of time as well as whether or not you need it quickly – WE CAN CLOSE IN 7 BUSINESS DAYS!

Who is this for?

Investors and borrowers with a great opportunity should look into these loans, which are for clients who need the funding fast because their lender cannot close them in time or want to take advantage of an investment while it lasts.

How do I qualify for a Bridge Loan?

We have a variety of products for investors. The minimum down payment on these homes is 15%. Investment experience would be beneficial, but not required!

How long does it take to approve?

We can have you pre-qualified within 24 hours of when you send in the documents required. We close loans in 7 days if all parties work with us – Seller, Buyer and Appraiser!
-> 5 – 10 business days (bridge) average
-> 30 – 45 days (long term rental) average

How much can I get approved for?

Loans are made up of different amounts, but the approval rates will be similar. We can go from a 1 Million Dollar Loan Amount at 85% LTV or 50% for a $8 Million dollar loan.
Every scenario is different. With enough compensating factors your loan gets done; however understand that higher loans will require larger down payments!

What are the advantages of a Bridge Loan?

The 7-day processing time is a competitive advantage. This fast turnaround means you can close on your next purchase and get into that property before someone else does!

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Bridge / Fix & FLIP LOANS

Program Highlights

Here’s the main program highlights for a Bridge / Fix & Flip / Rehab Home Loans:

Loan Amounts up to $150,000 to $8,000,000
Single Family Home, Condo, Multifamily, Mixed Use (on exception)
Bridge: 7.50% to 11.99%
Long Term Rental: 4.00%-7.99%
0 to 2 points origination fees
Interest only (bridge) and 30 year (long term rental) loans
Typically 75% to 80% LTC
Typically 60% to 65% LTV
620 Minimum FICO
6 months to 30 year terms
1st Deeds of Trust
Mortgage Disclaimer
Loan programs, interest rates, and eligibility requirements change frequently based on market conditions, lender guidelines, and regulations. Loan limits may also adjust, affecting qualification criteria.Approval is not guaranteed and depends on underwriting, credit history, income, and other factors. Because rates and terms fluctuate daily, locking your loan is crucial to securing the best terms and avoiding unexpected changes.ModernPad does not guarantee loan approval or specific terms. For the most up-to-date options, consult a licensed mortgage professional. Get started today to secure your best financing options!”