Explore our Rates
OUR LOAN AMOUNTS
$200,000 TO $7,000.000 +
1ST POSITION LOANS FOR NON OWNER OCCUPIED (NOO) PROPERTIES ONLY
6-24 MONTHS (LONGER TERMS CONSIDERED ON A CASE BY CASE BASIS)
LOAN TO VALUE (LTV)
UP TO 65 – 70% ARV
UP TO 90% ACQUISITION + 100% REHAB
LOAN ORIGINATION FEES
VARIES DEPENDING ON LENGTH OF TERM
NO PREPAYMENT PENALTY
What is a Bridge Loan?
Bridge Loan is a term used by Private money lenders when originating a non-traditional bank loan. The term bridge is a term used by people in the industry to bridge the gap between purchase and disposition via refinancing or sale. The Lenders rely upon originating bridge loans mainly on borrower’s assets and equity in the underlying collateral. These loans are most suited for a fix and flip investor that needs further financing either until closing of a transaction or resell the property usually within less than a years’ time.
What are Commercial Loans?
Any property that has a commercial use can be used as collateral for a commercial loan. At Sunset, we lend on all types of commercial property from office buildings and strip malls to large shopping centers (with or without an anchor tenant) that is located within the continental United States. We also provide rehab and construction financing on Commercial property and can easily roll a bridge loan into permanent financing.
Commercial Property Types
Sunset provides construction and Rehabilitation loans to investors. These loan operate as line of credit where the borrower may access those funds for construction purposes. The caveat is that these loans are only drawn when certain portion of the project is completed as it operates for construction reimbursement. The disbursement of funds is done through a fund control to ensure work has been properly performed.
No Payment on Construction Holdback
No payment on construction hold back is HUGE. Imaging having to pay on money that you do not have access to. For instance if you borrow 1 million for construction portion of your project at 9%, you would have to pay $90,000 per year on monies that you did not use. Assuming if the purchase money loan is too 1 million, then you effective interest rate is 18%. At Sunset you do not pay for construction hold back to the extend that it’s not used.
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