Hard Money Loans

Bridge Loans

At Larry the Lender, we specialize in offering bridge loans as a powerful tool for real estate investment. These loans serve as a short-term solution, bridging the financial gap for businesses and investors. Whether you're an investor in the Houston or Austin Metro areas, our bridge loans are tailored to facilitate your immediate funding needs.

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Your Trusted Hard Money Bridge Loan Lender

Our bridge loans are secured by the borrower’s existing property and designed to expedite the real estate transaction process. The funds can be used to close on a new property before selling the old one. With our 50 years of combined experience, we ensure that the real estate bridge loan process is smooth and aligned with your investment strategy.

Loan Fees

While bridge loan rates can be higher compared to traditional loans, Larry the Lender’s approach prioritizes transparency and competitive rates. We don’t believe in hidden costs, and our bridge loan rates today are consistent with what we publish on our website. We are here to guide you through all associated costs, ensuring clarity in every step. Our loans never contain a pre-payment penalty, so you can pay us off at any time prior to maturity without a penalty for doing so.

Property Criteria

Our unique approach to bridge loans involves an in-depth assessment of both the property being purchased and the one being sold. Our property valuations are done in-house and rarely require an appraisal to be conducted. The equity in your existing property plays a crucial role in our tailored approval process, without the need for cumbersome appraisals.

Loan Terms

The terms of our bridge loans are typically up to one year, with flexible arrangements to suit your specific needs. Our understanding of how bridge loans work means we craft solutions that align with your long-term financing or property sale, without binding you to undue constraints.

Appraisals / Insurance

Unlike many lenders, we often don’t require traditional appraisals for our bridge loans. At Larry the Lender, we conduct our own property evaluations, establishing our values to determine how much we can safely loan. Ensuring proper insurance and understanding mortgage bridge loan criteria are integral to our process, and we’re here to support you in these steps.

Borrower Criteria

Qualifying for a bridge loan with Larry the Lender doesn’t only rely on traditional metrics like credit score or debt-to-income ratio. We look at the overall potential of your real estate project and consider factors such as property value and your ability to manage multiple mortgage payments.

Do reach out if you wish to learn more about how Larry the Lender can assist with your bridge loan needs, offering personalized solutions that reflect our experience, transparency, and commitment to your success.

Loan Overview

Loan Programs Type	Commercial Loans	Residential Loans	Land / Lots Loans	Fix / Flip Loans
Do We Offer Them?	Yes	Yes	Yes	Yes
LTV	70-80%	70-80%	0-50%	70-80%
Minimum Loan Amount	$75,000	$75,000	$75,000	$75,000
Maximum Loan Amount	$5,000,000	$5,000,000	$5,000,000	$5,000,000
Loan Term Offered	6 or 12 months	6 or 12 months	6 or 12 months	6 or 12 months
Interest Rate Offered	12.99%	12.99%	12.99%	12.99%
Points Charged	2 or 3 based on term	2 or 3 based on term	2 or 3 based on term	2 or 3 based on term
Pre-payment Penalty	No	No	No	No
Insurance Requirements	Property, Windstorm	Property, Windstorm	N/A	Property, Windstorm
Flood Insurance Requirements	For Floodzone Properties	For Floodzone Properties	N/A	For Floodzone Properties
Lending Area	Texas Only	Texas Only	Texas Only	Texas Only
Special Requirements	Phase 1 - Loans > $1 million	N/A	Possible Survey	N/A

What Are Bridge Loans?

Bridge loans, provided by specialists like Larry the Lender, are short-term financing solutions tailored to ‘bridge’ transitional gaps in real estate transactions. Utilized when immediate funds are required to secure a new property prior to selling an existing one, these loans are commonly anchored by the borrower’s current commercial or investment property. Once the old property sells, the bridge loan is repaid, simplifying the process of moving between properties.

What Properties Qualify for Bridge Loans?

Bridge loans at Larry the Lender are available for both residential investment and commercial properties. They are primarily secured by the borrower’s existing property, taking into account the equity within that property and the prospective value of the new one. Our comprehensive evaluation ensures a smooth, transparent process for a wide range of property types.

Who Should Consider Applying for Bridge Loans?

Individuals and businesses seeking swift access to capital for a real estate opportunity find bridge loans highly effective. Particularly valuable for those aiming to purchase a new property before selling the current one, bridge loans with Larry the Lender offer the flexibility and promptness needed in today’s competitive real estate environment.

What Sorts of Projects Are Bridge Loans Good for?

Larry the Lender’s bridge loans are crafted for time-sensitive real estate endeavors, such as flipping properties or embarking on significant renovations. If securing a new property while waiting for the current one to sell is your challenge, our bridge loans alleviate the pressure of perfect timing, allowing for strategic investments.

Why Choose Larry the Lender for Bridge Loans?

Opting for Larry the Lender’s bridge loans means embracing competitive bridge loan rates and adaptable terms. With our seasoned team who understand the distinct requirements of real estate investors, we provide expedient, dependable funding solutions. We’re committed to aiding clients in capitalizing on lucrative investment opportunities without the stress of synchronizing sales and acquisitions. Learn more about how we can assist you in navigating the real estate market with confidence.

Benefits of Asset Based Lending Larry The Lender

Benefits of Asset Based Lending Larry The Lender One

Benefits of Bridge Loans

Bridge loans offer several benefits, including the ability to purchase a new property without waiting for the sale of the current one. This flexibility ensures that borrowers don’t miss out on potentially lucrative real estate opportunities. Additionally, bridge loans allow borrowers to use the equity in their current commercial or investment property towards the down payment on a new property, which can make the transition smoother and less stressful.

Bridge Loan Application

Applying for a bridge loan with Larry the Lender is a straightforward process. We evaluate factors such as the value of your existing property, the potential value of the new property, and your ability to repay the loan. Contact our team today to start your application process and take the first step towards securing your next real estate investment.

Bridge Loans FAQ

What is a Bridge Loan, and How Does It Work?

A bridge loan, often referred to as interim financing, is a short-term financial solution that fills the funding gap until long-term financing becomes available. In the real estate context, it’s a tool that enables immediate property purchase, even before the sale of a current commercial or investment property. It’s designed to ‘bridge’ time-sensitive financial gaps, making it especially useful in competitive real estate markets.

What Is the Typical Duration of a Bridge Loan?

Bridge loans are inherently short-term, with durations typically up to one year. The exact term may vary depending on the lender’s policy and the borrower’s unique needs and circumstances. It’s intended to cover the period until permanent financing is secured or an existing obligation is met.

Are Bridge Loans a Standard Option in Commercial Real Estate?

Yes, bridge loans play a significant role in commercial real estate transactions. They are particularly useful for property transitions, renovations, or ownership changes where immediate funding is required. Their flexibility makes them an attractive option when traditional bank loans are not suitable or timely.

Why Opt for a Hard Money Loan Over Traditional Bank Financing?

A hard money loan, often linked with bridge financing, offers several advantages over conventional bank loans. Approval and funding are typically faster, responding to immediate financial needs. Hard money lenders may also prioritize the collateral’s value over the borrower’s credit score, accommodating a wider range of credit profiles.

What Time Frame and Criteria Govern Bridge Loan Approval?

Bridge loans stand out for their swift approval and funding, usually within a matter of weeks or even less. Here at Larry the Lender we usually accomplish all of this in a few days. Approval hinges on various factors, including but not limited to the collateral’s value, borrower’s creditworthiness, and a clear repayment strategy. Each lender might have unique criteria, reflecting their focus and the specific nature of the bridge loans they offer. Unlike some other lenders, Larry the Lender focuses almost exclusively on the property value.

Hard Money Lending Resources

Welcome to Larry the Lender, your trusted source for hard money loans. With years of expertise, we've become a leader in the hard money lending industry, offering tailored solutions to real estate investors. Our commitment to transparent, rapid, and accommodating financing has enabled countless clients to seize opportunities in the competitive real estate market. Let's dive into the details of our unique approach to hard money loans

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