Chicago Bridge Loan is a short-term loan which bridge the borrowers plan from one real estate transaction to another. The Chicago bridge loan is useful when a borrower only needs financing for a short time frame where a long-term fixed rate loan does not make sense. A Chicago Bridge Loan or a hard money bridge loan from private lenders can be used by a real estate developer, real estate investor, or other business entity to take advantage of commercial opportunities that don’t fit into the traditional bank standards. Our typical maximum loan-to-value allowed on subject properties is 65%. These loans are typically for 6 months.
Example: Borrower owns an investment property in the Chicago area, it is currently on the market for sale, and needs capital to fund their next real estate deal. Being a private money lender, we would lend on the property (bridge loan) until the property sells, this would be a hard money equity Chicago bridge loan, this way they do not miss out on their next deal awaiting the sale of the property they own.
How will a Chicago bridge loan help me purchase an investment property?
A hard money Chicago bridge loan from private money lender like Private Lending Group can be used to purchase real estate if a borrower does not meet conventional bank standards or does not have time to wait for a traditional banks typically slow lending process. Hard money allows for things that banks never allow: low or no credit scores, incomplete construction, property in need of repairs, etc.
Hard money funding can be used to quickly work around these financing problems and provides the opportunity for a savvy investor to acquire new properties.
Click here to apply for a hard money Chicago bridge loan. You must have 20-40% as a down payment to qualify for a hard money purchase loan. Commercial loans can also be interpreted these days as bridge loans or a bridge loan by a private money lender even on a 1-4 unit property. Due to the economy, hard money financing has become increasingly popular.
Commercial hard money cash out refinances allow you to extract equity from real estate you already own. This can be done with a hard money equity loan. For commercial loans, hard money purchase loans are a quick, easy way to get those funded. It can be a quick way of generating additional working capital to be utilized as you quickly as one week. Our niche is getting the tough bridge loans, commercial loans, a Chicago bridge loan hard money financing in a timely manner.
These are just some of the ways the Private Lending Group Chicago Bridge Loans can help with getting your deals funded. Click apply here on the top right to work with the nations #1 private money lender. If you are looking for a bridge loan for your commercial deals we would love to see any and all of your loan requests.