Commercial & Residential Bridge Loans in Florida & Miami

Need to quickly secure funds? A bridge loan in Florida or Miami can get you to the closing table fast. Discover the power of bridge loans.

Why consider a bridge loan in Florida or Miami

The Florida real estate market remains hot, so time is of the essence.

Want to be the winning buyer on that luxury property?
Need a quick cash-out refinance to get funds to seize an investment opportunity?

The solution may be to get a bridge loan.

A bridge loan is a short-term mortgage loan (typically 6 to 24 months) that allows you to quickly secure funds to cover a pressing need.

It acts as a “bridge” until you are able to pay off the loan or secure more permanent financing.

Discover how a bridge loan can get your next urgent real estate transaction closed in a matter of days.

Benefits of a commercial or residential bridge loan in Florida or Miami

Not sure if a commercial or residential bridge loan in Florida or Miami is right for you? While bridge loans typically come with higher interest rates than traditional banks, the tradeoff is speed and certainty of execution.

Speed

With a bridge loan, you can get to the closing table in a matter of days. DAK Mortgage recently closed a bridge loan in Miami in only 4 days. If you're facing a looming contract deadline, or if you have an urgent need to refinance, a bridge loan is for you.

Collateral based

The spotlight will be on the property, not you. The bridge lender is only focused on the condition and value of the property. Therefore, it won't matter if you have less-than-perfect credit, high debt-to-income ratio, or other issues.

Certainty of closing

With a traditional loan, the underwriting process is long and tedious and may result in denial. By contrast, a bridge loan offers a streamlined path to the closing table.

Ready to explore a bridge loan in Miami or Florida?

We have bridge loan options to address the most urgent needs, no matter what your situation is.

Let's Discuss Your Bridge Loan Scenario

Commercial and residential bridge loans in Florida and Miami to solve any situation

Every day, borrowers need commercial and residential bridge loans in Florida and Miami. Here are the most common reasons why.

Foreclosure or bankruptcy

Are you in foreclosure now? With a bridge loan, you can pay off your current lender and save your property.
Already had a foreclosure in the past or another recent credit event such as a bankruptcy? If you need to purchase a new property or refinance, a bridge loan may be your only option until you repair your credit issues.

Mortgage denied last minute

So many times, our clients come to us after being turned down by another lender. The most common denial reasons include:

Lack of consistent and documented income
High debt-to-income ratio (DTI)
Failure to provide satisfactory Verification of Rent or Verification of Mortgage
Failure to satisfy seasoning and sourcing requirements for assets
Foreign nationals who can’t satisfy underwriting guidelines
Non-warrantable condos with pending litigation or other issues

None of the above issues is a roadblock for a bridge loan. Have a deadline looming? A bridge loan can help keep your deal alive.

Urgent need to refinance

A bridge loan can also help with any urgent needs you may have with property you already own:

Your note is about to mature but you don’t have the funds to make the looming balloon payment.
You need to tap into the equity of your property to pull out cash for emergency use.
You are going through a divorce or partner buyout and you need to refinance the property you used to jointly own.

Book a call with us today

Let's discuss your scenario

Commercial and residential bridge loan lenders in Miami and Florida

As a seasoned mortgage broker in Miami, we have deep connections with both local and out-of-state lenders who specialize in bridge lending. Here’s how we’ve helped our clients get a commercial or residential bridge loan in Florida or Miami.

4-day close to save condo purchase

We obtained a $1.6 million purchase loan for our client, a foreign national from Spain, to acquire a $2.4 million investment property in Miami. Our client, who had previously been turned down by another lender, needed minimal documentation requirements and a fast closing.

Looming balloon payment

On behalf of a logistics company based in North Miami Beach, we obtained a two-year bridge loan to refinance the mortgage on its three office condominium units, valued at $1.2M total.

Refinance of bridge loan

We used a bridge loan to help our client purchase an Airbnb property in the Tampa area. Seven months later, after he was able to show income through a profit-and-loss statement, we helped him exit the bridge loan by refinancing him into a longer-term loan.

We are Miami and Florida bridge loan specialists

As your Miami and Florida bridge loan expert, we'll help plan your entire journey - from the application phase all the way to your exit strategy.

Call Now +1 321-239-2781

Bridge loans in Florida: FAQs

What is a bridge loan in Florida?

A bridge loan, also referred to as a hard money loan, is a short-term loan providing funds for urgent real estate needs. Bridge loans can be used for both purchase and refinance transactions. It acts as a “bridge” or temporary financing for borrowers who don’t meet traditional underwriting guidelines.

Is a bridge loan hard to get?

No. Typically, bridge loans are much easier to qualify for than traditional loans. The bridge lender will focus primarily on the condition and value of the subject property. Your credit score, income, employment, debt-to-income ratio, and citizenship are not factors. The approval process is therefore very streamlined.

What credit score is needed for a bridge loan?

The vast majority of bridge lenders do not have any minimum credit score requirements. Some bridge lenders may run a background check, but not a full credit report. Because your credit score and other factors such as your income and employment aren’t considered, bridge loans close very fast.

What are the cons of a bridge loan?

Bridge loans usually come with high interest rates. Also, because the terms are short (6 to 24 months), you must have a solid exit strategy to ensure you’ll be able to pay off the bridge loan at maturity. As a tradeoff, bridge loans are fast and have certainty of closing.