Bridge Loans

A bridge loan is a type of short-term financing typically used to bridge the gap between the purchase of a new property and the sale of an existing property. It is a temporary loan that helps borrowers "bridge" the financing gap until they can secure long-term financing or sell their existing property.

Here's how it generally works:

  1. Need for Immediate Funds: Bridge loans are often used when a borrower needs immediate capital but hasn't yet sold their current property or finalized long-term financing.
  2. Short-Term Solution: They are designed to be short-term loans, usually with terms ranging from a few weeks to a few years.
  3. Collateral: Bridge loans are often secured by the borrower's existing property that is being sold, or the new property being purchased (or both).
  4. Speed of Approval: Bridge loans are often used in real estate transactions where timing is critical.

Genesis Commercial Loans offers loans across the entire USA, including St. Lucie County, Martin County, Broward County and Miami-Dade County.