General Parameters
Excelsior offers a wide range of bridge products (typically 24 month terms or less) to address the varied needs of equity borrowers. This can include a multitude of properties which normally fall into one or more of these categories:
- Residential
Primarily Non-owner Occupied including NOD bailout situations
- Construction
ALL Types including spec and rehab! We will lend on the "SUBJECT-TO" or "COMPLETED" appraised value!
- Commercial
- Traditional bridge loan (24 months or less)
- New FLEX program for conventional and SBA 504 loans (see our FLEX page)
Equity Bridge Loans
Underwriting is comparatively simple as we emphasize equity in the property and not cash flow, credit scores or any ratios of the borrower.
Other focuses of underwriting include the existence of a plausible exit/payoff strategy and review of the borrowers credit where we are noting trends versus the actual scores.
The following outlines key parameters and general funding guidelines of Excelsior:
- LTV’s to 65%
- Loan amounts from $100,000 to $1.5MM+
- Interest holdbacks on most loans
- No pre-payment penalties on loans 24 months or less
- Seller carry back and/or cross collateral on real properties acceptable
- NOD filed and/or Bankruptcies OK
- No minimum score or ratio requirements (minimum 600 score for commercial FLEX program)
- Lending in on the West coast, focusing on Oregon, Washington, Idaho and N. California properties (see our Lending Area)
We are a mortgage lender, not a broker. Funds for your loan are immediately available!
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