Commercial bridge loans are short-term financing solutions that help borrowers acquire or renovate commercial & multifamily properties prior to securing permanent financing. Commercial bridge loans are typically utilized for time-sensitive transactions or value-add opportunities.
A residential business purpose loan is used to purchase an investment property or a cash out refinance where the funds are used for any business purpose. An investment property would be considered a property being fix up to sell or a rental property.
An Owner Occupied Bridge Loan is a short term loan given to homeowners who want to purchase a new primary residence prior to the sale of their current home. Owner occupied bridge loans allow you to make a competitive offer on the home you want, sell your previous home for top dollar, avoid making a contingent offer on your new residence, and qualify for the best long-term financing option on the market.