"Jack Blythe is a pleasure working with. Jack ensured that I was updated throughout the closing of my deal. His thoroughness, professionalism, communication and attention to detail are exemplary and gave me assurances for the success of the closing of my investment property and indeed it was a success. If I can give more than 5 stars, I would."
Shaolin Preacher
Investor
Commercial Loans
Our commercial bridge loan is designed for investors seeking maximum leverage on a value-add investment. We typically close within 30 days, dependent upon appraisal timing. PIL will loan up to 100% of hard cost (purchase + renovation) with a limit of 70% of appraised stabilized value or ARV. Loan term is twelve (12) months with a six (6) month extension available for a 1% fee. Loans can be paid off at any time without additional fees or penalties.
| Commercial Bridge Loan Rates & Terms | |||
|---|---|---|---|
| Loan Amount | 70% of ARV | ||
| Origination Fee | 3% of loan amount (payable at closing) | ||
| Interest Rate | 12% interest rate | ||
| Pre-Payment Penalty | None | ||
| Term | 12 months (extensions available) | ||
| Liquity Requirements | 20% of the loan amount* | ||
| Qualifications & Requirements | Lender Specific Closing Costs |
|---|---|
| 620+ Credit Score | $450 Processing Fee |
| 3 Months Bank/Investment Statements | $350 Administration Fee |
| Liquidity = 20% Loan Amount on No-Cashflow Assets | $50 Wire/Courier Fee |
| Two Years Tax Returns | |
| Completed PIL Loan Application |