Bridge Loans

Bridge loans are relatively short-term (usually three to twelve months) loans that are used to “bridge” the gap between the termination of one loan and the start of another. They are often needed when rapid access to the capital is required or when a property doesn’t qualify for a traditional mortgage. Bridge loans are typically paid off when long-term financing is secured for the property. Rates for bridge loans, also known as hard money loans, are typically higher than for longer term types of financing.