Commercial Bridge Financing Powered By Alpha Funding*
Purchase and then improve a multi-family or mixed-use commercial property with a bridge loan.
Do you not have a deal you want to fund yet? Click below to get pre-approved today!
Do you have a project you need funding for now? Click below to submit your deal for review!
Main highlights as follows:
- Strong credit and liquidity required of borrower
- No tax returns required
- Borrower makes monthly interest payments until loan term expires
- 12-month term with no pre-payment penalty
Rates start at 11.99% with 2-3 points on the total loan amount
- No upfront fees and we only get paid when you close
- $1,000 attorney fee, $995 commitment fee, and $40 wire fee at closing
- Construction funds are released as work is completed
- Rehab budget is limited to 100% of the purchase price
- Will cover up to 80% of the acquisition price and 100% of the construction price
- Prior experience is required. Borrower must provide documentation of commercial property investing.
- Select Mixed Use (more than 50% income from residential units) and Multifamily (5+ residential units) Properties
- Do not lend on special use or commercial only properties
- Maximum Loan to Cost (LTC) of 85% of total project cost and maximum 70%-75% (75% only on a case by case basis) After Repair Loan to Value (ARLTV). Remaining 20-25% would need to be brought in as money down by the borrower.
- Interest charged only on funds made available to you. You are not charged interest on capital that has not yet been released in a construction draw.
- Permanent loan options available if the exit strategy is to refinance
- All loan servicing, inspections, draw approvals, and underwriting done by experienced in-house team without any third parties. Many decades of underwriting experience amongst top staff.
- Promise the very best in communication, customer service, guidance, and support through being honest, transparent, and direct.
- Can work cooperatively with borrowers if construction plan does not go as originally anticipated
- Commitment to Innovation: Having a commitment to bring the best technology, systems and processes to private lending for a smooth, easy, and consistent process.
- Closing speed: Can close in as little as 7 days! Typical closing time is 10 - 28 days from when we receive the required application and documents depending on the transaction circumstances.
- Competitive rates: The best combination of rate and leverage for your project.
- Values building long term relationships with clients over maxing out the profit on an individual loan.
- Repeat borrowers receive preferred pricing
- Proven track record: Have loaned $1 billion since 2007 with over a 70% rate of repeat business
* Note: Double Close Cash LLC is not affiliated with Alpha Funding. We do receive commissions for referrals at no extra expense to the borrower.
Why not get pre-approved right now?
Even if you do not have a fix and flip deal that needs funding right now, you can go ahead and get pre-approved now so that you can shop with confidence for your next real estate deal knowing you have a team ready to back you. And, can you can receive a personalized proof of funds within 24 hours of submitting your request to borrower portal!
It only takes 10-20 minutes to apply, and you only have to be approved once! There is only a soft pull on credit for the pre-approval, with no hard credit check made until you have a specific deal that needs to be funded.
Even if you have other lenders you are satisfied with now, it makes sense to have other lenders in case there is a situation where they are not able to help you in the future and you need a backup or a company that can simply provide you more options!
Click the button below to submit your pre-approval application today!
Have a Specific Project You Need Funding For Now?
Click the button below to submit your deal for review. Someone from our underwriting team will get back to you within 24-48 hours to discuss the deal.
