Bridge Loans
Bridge Loans in Florida
Skyway Bridge Lending provides short-term bridge loans from $50,000 to $1,000,000 on residential investment property throughout Florida. Our bridge loans give real estate investors fast, asset-based financing to buy or refinance a property, and we can close in as few as 5 business days.
What is a bridge loan?
A bridge loan, sometimes called a hard money bridge loan, is short-term financing secured by real estate. It covers the time between buying or refinancing a property and your long-term plan, which is usually selling the property or refinancing into a long-term rental loan.
The loan is based mainly on the property's value, so it can close faster and with less paperwork than a bank loan.
When investors use a bridge loan
Winning a competitive purchase
You can make an offer with a short closing period, which can compete with cash buyers.
Buying before you sell
You need to buy your next investment property before an existing one sells.
Refinancing a maturing loan
Your current short-term loan is coming due, and you need more time to sell or refinance.
Stabilizing a rental
You are buying a vacant or under-rented property and plan to lease it up before refinancing into a long-term rental loan.
Pulling equity from a property you own
You want to use the equity in an investment property to fund your next deal.
Properties we finance
We finance 1–4 unit residential investment property, including single-family homes, duplexes, triplexes, fourplexes, townhomes, and condos, whether vacant or tenant-occupied. We do not lend on a home that you or a family member lives in or plans to live in.
For properties with 5 or more units or other commercial property, see our commercial bridge loans page.
Bridge loan terms
| Loan amount | $50,000 to $1,000,000 |
|---|---|
| Leverage | Up to 75% of the property's current value. On purchases, the loan cannot exceed the purchase price. |
| Term | 12 months, with interest-only monthly payments and the balance due at maturity |
| Cost | Typically 2 to 4 points, with rates quoted for each deal |
| Prepayment | A 6-month minimum interest period, with no prepayment penalty after 6 months |
| Closing | In as few as 5 business days, and typically 7 to 10 business days |
| Borrower | An LLC with a personal guaranty from its owner. We have no minimum credit score. |
These are our standard guidelines, and we review deals outside them case by case. You can estimate your numbers with our loan calculator or read more in our borrower FAQ.
Planning your exit
Every bridge loan needs a clear plan for repayment within 12 months. The two most common plans are selling the property, or refinancing into a long-term rental loan once the property is leased. We ask about your plan at the start, because it shapes how we structure the loan.
What we need to review your deal
To give you initial terms, we need the property address, the purchase price or loan payoff, your plan for the property, and your target closing date. Before closing, we will ask for:
- LLC documents.
- Two months of bank statements.
- The purchase contract or payoff letter.
- Current leases, if the property is tenant-occupied.
How the process works
- Send your deal. Submit the property and your plan through our application, or call us.
- Get initial terms. We review the property ourselves, without requiring an appraisal, and send you proposed terms.
- Close. After you accept the terms, we coordinate title, insurance, and loan documents with your closing agent.
- Repay. You repay the loan when you sell or refinance the property.
Where we lend
We finance investment property throughout Florida, with a focus on these counties:
- Sarasota County
- Manatee County
- Pinellas County
- Hillsborough County
- Pasco County
- Lee County
- Charlotte County
- DeSoto County
Have a deal?
Send us the details, or estimate your numbers first with our loan calculator.
Skyway Bridge Lending makes business-purpose loans only and does not make loans secured by owner-occupied residences. The terms on this page are general guidelines and are not a loan offer or commitment. All loans are subject to underwriting approval, property review, and final loan documents.
Have a Deal? Let's Talk.
Contact
Sarasota, FL
Quick Links