What is a Bridge Loan
Below is a MRR and PLR article in category Finance -> subcategory Loans.
What is a Bridge Loan?
Understanding Bridge Loans
A bridge loan, also known as a hard money loan, is a short-term financial solution designed to provide funding until long-term financing is secured. These loans effectively "bridge" the gap by offering immediate cash to meet urgent financial needs, such as paying bills, while awaiting the completion of a larger investment deal or the availability of permanent financing.
How Bridge Loans Work
Typically offered for terms ranging from 12 to 36 months, bridge loans can often be refinanced into more affordable, long-term financing options. They are particularly useful when a borrower needs to act quickly?"whether to capitalize on an opportunity or to avoid financial trouble, such as debt restructuring or bankruptcy.
Common Uses
While bridge loans can be used for various purposes, they are most commonly utilized in the realm of commercial real estate. This includes purchasing or refinancing properties such as apartments, industrial buildings, retail spaces, hotels, healthcare facilities, and mixed-use developments. Additionally, some homeowners may seek a bridge loan to facilitate buying a new home before selling their existing one.
For more detailed information about bridge loans, visit [Security National Capital](http://www.sncloans.com).
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