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A “bridge loan” is a short-term financing which is used to facilitate the financing of a property for a short period of time. It is used when a borrower intends to sell a property quickly or refinance in the near future.
When a bridge loan is financed, a repayment strategy is usually in place that enables the borrower to repay the loan through the sale or the refinance of the property. Bridge loans are often offered for terms of 6 to 36 months and in some cases can be refinanced into long-term financing.
“Bridge loans” can be financed for the following property types:
Bridge loans can be applied for, for the following reasons:
*Contact our RB Solutions “loan strategists for more information.
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