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Bridge Loans

Product IDBRG
LocationAll markets considered with focus on New England, Northeast, East Coast
Property TypesExisting Office, Retail, Industrial, Multi-Family & Hospitality. Special Use projects considered on a case by case basis.
Loan Amounts$4.0 million+
Security1st Mortgage Position
LTVUp to 75%
LTCUp to 90%
TermUp to 2 yrs
Rate TypeFixed / Floating
Interest OnlyYes (typical)
Rate / Rate IndexVaries. Typically between 6-12% depending on project. Rate often quoted "as is" by lender based upon project
SpreadVaries based upon project / risk characteristics
PrepaymentVaries based upon project. Lender will require a min. amount of term outstanding so if early pre-prepayment is permitted a full or partial make whole $ will be required.
RecourseBoth recourse & non-recourse offered (depends on project / Sponsor)
TI / LC ReserveTypically funded as part of loan
Construction / RehabAny construction $ typically funded by loan and held in reserve to used for project.
Lender FeesVaries by project
EagleBridge FeeTransaction specific
ServicingTypically, lender-retained

 

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