Next Bridge Funding Frequently Asked Questions
A type of financing where a loan is secured by the borrower’s assets as collateral. In our case, we use real estate assets as collateral to provide short-term funding.
On average, we offer loans for a minimum of 3 months to a maximum of 12 months. In some cases, we can offer to extend the loan term longer if needed.
Our rates range from 11.99% to 14.99%. We tailor our interest rates based on the following:
i. Property Condition
ii. Length of Loan Term
iii. Our Loan to Value
iv. Current Market Conditions
We base our approval on property condition and what your goals are for your real estate investment. We do not base our approvals on credit. Because we are a private lending company, we can be creative in our loans to get you approved for a loan that best suits your needs!
We do not have a minimum amount we are willing to lend. However, our maximum currently is $3 Million. We are always open to discussing and seeing if we can accommodate a larger project!
Yes, we do offer 100% financing depending on the value of the property. We typically do not like to exceed 80% of the Loan to Value of the property.
Yes, we do, if we have proof of the First Lien mortgage is current and in good standing, and we are in an equity position that does not exceed Loan to Value.
No, we love working with first-time investors! We want all our borrowers to be successful in their real estate investment. We assist with matching experience and skill with the project scope, so everyone comes out as a winner.
We strive to provide fast lending solutions to move as quickly as your project does. We require clean title work, a property insurance policy, and for us to complete our property inspection. Once we have completed those items, we are clear to close on the loan. On average, it takes 5 business days from start to finish. In some cases, we can close in as little as 24 hours if everything is complete!
Our objective is to help real estate investors, small business owners, commercial contractors and home builders quickly and efficiently finance their real estate and business activities.
