Looking for bridge loan programs? Dominion specializes in them.
We lend nationwide on all property types to customers with varying degrees of credit. We specialize in short term real estate secured loans, often called bridge loans and/or hard money loans. We provide these loans for many types of income producing commercial situations, including land acquisitions, development, construction, bank workouts, foreclosures and bankruptcies.
What is a "Bridge Loan"?
Bridge loans are short-term funds that "bridge" the gap between today's need for immediate cash to pay bills and the final closing of a pending investment deal or long-term financing package. Many times the borrower has an immediate need for financing and cannot wait for the length of time needed to process conventional financing. Bridge loans solve this temporary situation and because these loans usually do not have prepayment penalties, the borrower has the flexibility to replace the loan without penalty.
In addition to closing quickly, bridge loans may also assist a borrower that has poor or spotty credit. Since the bridge loan is secured primarily by the equity in the real estate, the borrower’s credit is not considered as a major factor in providing bridge financing. During the term of the bridge loan, usually six months to two years, the borrower’s credit can be rehabilitated and then qualify for permanent financing with conventional terms.
Call us. We're here to help with many bridge loan programs to suit your needs.
