Bridge Loans

Bridge Loans are not a new product, businesses and individuals have been using them for years because conventional lending is slow to respond to the timely needs of buying properties. Peak Funding specializes in coordinating this transaction as timely as possible.Graduate Program

  • Peak Funding will move as quickly as our clients.
  • Decisions can often be made following a brief, fact-finding phone call
  • Verbal commitment can be given without appraisal of collateral
  • Typically, a loan is closed within 10 days of initial call, or approximately 24 hours after due diligence is concluded

General Guidelines

  • Loans range from $20,000 to $2,000,000, larger deals require more time
  • Collateral can include, machinery and equipment, accounts receivable, real estate or other items considered of value
  • Terms range from 30 to 120 days
  • Interest rate ranges from 1% to 1.75% a month
  • Typically, borrower pays points as an origination fee
  • In some circumstance:, interest, fees, and points can be added to the loan
  • All loans are based on a Loan-to-Value Ratio(LTV) rates and points will be most affected by this determining ratio
  • We will loan on commercial, residential, and raw land

Advantages

  • Quick response time
  • Short-form appraisals usually accepted (realtor CMA’s will consider)
  • Flexible loan structure
  • Brokers protected
  • Overnight bridge loans
  • Minimal documentation, minimal up front fees


Foreclosure Funding

Graduate ProgramIf you want are interested in buying a property at a foreclosure sale, typically funds are due within 24 hours of you winning the auction’s highest bid. If you are interested in this process please contact us prior to the auction so we can have appropriate title work prepared and funds prepared to avoid you missing out on your purchase. It is possible to still fund in time if we find out after you’ve won the bid, but it could jeopardize funds being released from the title company in time. See general Guidelines under Bridge loans.

Hard Money Loans

Hard money lending could come in handy for a variety of deals you may be contemplating. Hard money lending will require some kind of security to back or secure the loan you receive. Give us a call we will discuss any item in which a clear value can be determined. They will be evaluated on a case by case process. See general Guidelines under Bridge loans.

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