A Bridge Loan is a short term-loan that provides financing while an individual or a company secures permanent financing. These loans are often seen when one is buying a house and selling the other. A Bridge Loan provides the immediate Cash Flow needed by the borrower.
Typical Items Needed for a Bridge Loan:
- Loan Application
- Borrower Authorization
- Bank Statements
- Picture ID
- Loan Submission Form
- Home Owners Insurance
- Mortgage Statement for Payoff Information
- Purchase Agreement (Contract)
If Corporation:
- Articles of Incorporation
- Bylaws
- Statement of Information
- Form W9
If LLC:
- Articles of Organization
- Statement of Information
- Form W9
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