Park West Capital’s Bridge Loans Are Apt To Complete A Commercial Construction Work

Also known by the name of gap or wrap financing, Park West Capital’s short-term bridge loans provide quick financing to wrap all the payments for your, the borrower’s, next commercial real estate space within a single loan.

Here is a scenario explaining bridge loans and their importance in the commercial landscape

Suppose there is a construction task that will fetch lucrative returns; you think that this is an investment that is worth your funds. Now, for acquiring construction finances, you will have to sell or rent out your existing commercial real estate.

Construction financing is generally a time-bound investment; that is, you will have to invest in a specific time period. And it does not matter whether your existing commercial real estate is rented out or sold. So in such cases, a bridge loan should be leveraged.

In short, a bridge loan will allow you to begin the construction work here and now. This fund type, in a way, bridges the gap existing between cash down payment monies till the time your existing real estate is sold.

The eligibility for acquiring bridge loans at Park West Capital

Since these loans are pretty quick to get, their eligibility status requires having:

• Excellent credit

• A low debt-to-income ratio

Park West Capital’s bridge loan details

Here are a couple of points that will let you understand the bridge loans offered by Park West Capital.

• This alternative financing lender can easily cater to a bridge loan requirement that is ranging from USD 1 million to USD 25 million.

• The loan will be for a short time period (ranging from 12 to 36 months).

• The LTV value will be 70 percent (maximum).

• The commitment fee will completely depend on the transaction value; generally, the fee ranges from 1 percent to 5 percent.

• The interest rate that is charged on this specific bridge loan will be from 8 percent to 12 percent.

• We will need a security during the first mortgage; the security can be any customary collateral.

Because of these factors, it is evident why this Commercial mortgage broker in Florida is among the best ones when it comes to picking bridge loans for construction financing. That is it, commercial investors. If you want any other piece of information regarding bridge loans or any other financial product that Park West Capital is dealing in, then shoot an e-mail at info@parkwestcapital.com or dial 800-969-4901.