Our soft deposits are structured as an assignment of the entity that is in contract to purchase the property. Once paid off, we assign the contract back. Real estate owners utilize this product when they would like to get a property in contract but don’t want to tie up their funds in a good faith deposit for 30, 60 or 90 days.
Fund in 48 hours or less
Transaction Fee: tailored to each specific deal
Legal Fee: typically $1,500
No credit checks, appraisals or underwriting fees
A unique niche product, catering to borrowers seeking very short-term financing with a very quick turnaround. Clients use our mezzanine loans to get short-term funds when they are tight on cash, expecting funds in the near future from the sale or refinance of a property and are in need of a less-expensive alternative to bringing in an equity partner.
Our approach towards arranging gap financing solutions is fluid. We customize our fee scale based on your circumstances, the size of your loan and your considerations.
Typical time period: 1-4 months
Borrowers utilize our short-term bridge loans when they need an acquisition loan and are very tight on timing. They use it as a bridge to a bridge, closing quick and keeping the loan in place long enough for another bridge lender to take it out. Alternatively, we offer more traditional, longer-term hard money loans as well
First position mortgage
Close: 3 days – 3 weeks
Up to 90% LTV and 100% of rehab