3 Benefits You Can Expect From a Colorado Bridge Loan

Friday, March 29, 2019

3 Benefits You Can Expect From a Colorado Bridge Loan

Colorado Bridge Loans can save you in a tight financial situation. Here are three things that you can expect when receiving a Colorado Bridge Loan from a Colorado hard money lender.

Depending on your financial situation and what purchase you want to make, a Colorado Bridge Loan can save you when you need to fund a real estate purchase quickly. Put into simple terms, a Colorado Bridge Loan will give you temporary funds while you’re waiting for permanent financing to come through.

There are many reasons a Colorado Bridge Loan may be needed. Here are three times you would benefit from using a Colorado Bridge Loan:

Purchasing Before Selling

A prime example is to pay for the purchase of a new home while an owner is waiting on their current home to sell. The timeline isn’t always ideal and if you find the perfect home, but haven’t been able to sell your property then a Colorado Bridge Loan is perfect for making that new purchase in the meantime.

This can also free up a homeowner from having to sell their home with a contingency, a requirement that could keep offers from coming in.

Remodeling Before Selling

A homeowner may want to make upgrades to a home before putting it on the market and if the upgrades require the homeowner to move out, a Colorado Bridge Loan would allow the homeowner to move into a new property while completing the upgrades instead of finding temporary housing which can be expensive and inconvenient.

Purchasing Commercial Property

Another example is when an investor wants to purchase a commercial property, but the loan-to-value isn’t high enough or there aren’t enough lessors in the building. Big banks won’t fund a purchase like that due to their stringent requirements so a Colorado hard money lender comes in to offer the capital to fix up the property and then the investor can turn to traditional lending after.

Colorado Bridge Loans can be an alternative to a traditional home equity loan and can be funded by a traditional bank, but when you need the funds quickly the best way to go is a Colorado Bridge Loan. The flexible requirements and repayment could be perfect! Call Level 4 Funding today to learn more!

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com
Dennis Dahlberg Broker/RI/CEO

About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.