Bridge Loans
WCB can help you span the gap between your real estate transactions.
If you need to make a real estate purchase before you are able to sell your old property, a bridge loan can provide the capital you need to make the transaction possible.
If you need to stabilize occupancy levels on new construction, renovation or improvement work on existing properties or acquisitions, a bridge loan can provide the means to reach a stabilized cash flow.
Our seasoned lenders can help you meet the challenges of building up your business with a short-term bridge loan, and are ready to give you more details and help you start the application process. Call us at (818) 449-7700.
Loan Amount:
$500,000-$5,000,000 (Larger on case-by-case basis)
Quality:
Average and above, clean properties
LTV:Maximum:
80% Loan-to-Cost not to exceed 75% of the stabilized value
DSCR:
Apartment, MHPs: Minimum: 1.20:1 on purchase/rate and term refinance; 1.25:1 on cash out’s
Commercial:
Minimum: 1.25:1 on purchase/rate and term refinance
Type/Index:
LIBOR or WCB Prime indices
Sizing/Qualifying:
Based on current rate going in
Amortization Term:
Interest only up to 24 months on loans with 60% LTV; over 60% LTV, 25/30 year-amortization
Recourse:
Full recourse on Bridge Loans
Prepayment:
Declining program available
Assumability:
N/A
Reports:
Appraisal, Transaction Screen or Phase One over $1,000,000 loan amount; Property Inspections and credit reports
Risk-based pricing:
All loans are subject to adjust for age and property condition, historical operating performance, multi-layered borrowing structures, credit scores, subsidized housing guidelines.
Some geographical areas may not receive maximum loan leverage.
Call for more details (818) 449-7700
