Bridge Loans

This is short term mortgage financing that is in place between the termination of one loan and the beginning of another loan. Also, a form of interim loan, generally made between a short term loan and a permanent (long term) loan, when the borrower needs to have more time before taking the long term financing. Commonly used for construction or rehab. Rates are higher than a conventional loan because financing is short term. United Financial Services is pleased to offer two very attractive programs for your consideration:

Program #1

Construction, Renovation / Repositioning, Mini Perms and Perms
  • $5 million to $200 million
  • Loan to Value (LTV) up to 80%, Loan to Cost (LTC) up to 100%
  • Minimum Debt Service Coverage Ratio (DSCR) 1.15x
  • Full Recourse loans with the exception of public companies
  • Equity recapture based on appraised values
  • Land acquisition and development
  • Office, Retail (strip center to big box), Hospitality (full to limited service)
  • Industrial (manufacturing to heavy industry)
  • Warehouse, Special Purpose Facilities (recreational, production, airplane hangars)
  • Mixed Use Projects, Residential (multi-family, condominium, and co-ops)
  • Health Care (senior housing, assisted living, and health clinics)
  • Land Development (residential, commercial, and recreational)

Program #2

Bridge, Mezzanine, and Preferred Equity
  • Prefer $8 million and up
  • 80% to 90% LTC / LTV depending on situation
  • Property Types: Apartments, Office, Retail, Hospitality and Industrial/Warehouse
  • Note purchases, REO's, distressed and non-distressed assets
  • Financing of note purchases
  • Terms: 3 years or less
  • No Land and No Construction with this program

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