Bridge Loans In Ohio (Cincinnati, Columbus And Beyond) – Venus Capital
Venus Capital is a Premier Alternate lender with Commercial Real Estate Bridge Loans throughout Ohio. Although the Commercial and Residential Market has become very attractive to investors, banks are tightening lending criteria and want to see perfect credit and taxes before considering new applications for purchase or refinancing a loan. In light of this, Venus Capital provides a vast range of bridge loan options for you to consider which will help you get funding fast for your next property. Whether it’s a buy-and-hold or a flip project, Venus Capital operates with no red-tape and top-notch service.
Venus Capital is among the leading Bridge Loan Lenders in the nation.
We prefer clients with a credit score of 650-680 and can close in 10 days. We are one of the fastest one-stop lending firm in Ohio.
Real Estate Property Types For Bridge Loans – Commercial & Residential Loans
We help clients obtain a private bridge loan options for many of the following property types:
- Light Industrial
- Auto-Repair, Car wash
- 5+ unit Multi-Family Apartments
- Fix and Flip Loans (120k-2mn)
- Single and Multi Family Construction (500k to 20mn)
- Rental Portfolio Loans (500k to 20mn)
- Medical Office/ Healthcare Real Estate
- Mobile Home Parks
- Senior Housing Facilities
We offer Bridge Loans or Conventional Loans (Long term) for Income Producing/ stable properties with rent roll. Loan amounts from $300,000 to $10mn in 10 days. Schedule a free bridge loan consultation today to get started.
Why A Private Loan Might Be Better For You
There’s always a question whether private lending and mortgages are better than traditional banks. Several factors can help you understand that private lending might be the best option for your situation. If you’re an investor looking for large amounts of capital in a short period of time, it’s often easier to secure the financing through a private lender. Here at Venus Capital for instance, we can help you secure funding in as little as 10 days. Many traditional bridge loan vendors can take a month or more to finalize the money. By that time, an investment opportunity could be gone.
Also, private bridge loan providers like Venus Capital have slightly less credit restrictions than traditional banks. For securing a short term loan with us, we only recommend a credit score above 650 which is significantly lower than many financial institutions. Hard money loans can fill the gap for individuals who don’t have the best credit score, but still want to invest in property.
Common Terms For A Bridge Loan In Ohio
Many financial loan institutions have terms for their bridge loans, and Venus is no different. We offer flexibility up to 3-year terms with our financing and up to 70% LTV with income-producing assets with rent rollup. Venus also becomes 1st position on any lien (except for CMBS). Loan amounts can be as low as $300,000 and all the way up to $30MM. Our team can handle a bridge loan of all sizes.
How Does A Bridge Loan Work?
A bridge loan is a type of short-term financing option that literally “bridges” two different loan types. It is a way for a person to gain the necessary funds to purchase a piece of real estate without having hard cash on hand. This is most common in real estate when a person has a loan on one property and is looking to sell that property and move into another property. Since a traditional mortgage loan can take several weeks to acquire, a better option was created.
However, a bridge loan is not a long-term solution to financing the property. Long term options are usually what a person strives for to close out a bridge loan and move into a stable loan option once everything is finalized and sold or bought.
A bridge loan is often a fast way to acquire cash needed for a purchase which makes it an attractive option in hot housing markets. Sellers interested in fast closings on real estate will appreciate an offer that comes with “no contingencies” because the offer contains the cash needed for the mortgage to be paid back. The buyers might be leveraging a bridge loan for this, but it makes no difference to the seller.
If you’d like to learn more, we created a whole page on How Bridge Loans Work here for you to read.
What Is Venus Capital Not A Good Choice For With Bridge Loans
Since Venus Capital specializes in large-scale loans, we do not particularly feel we are best for regular homeowners looking for a residential bridge loan between home purchases. This is a common use for bridge loans with the general population, but it’s something other companies do just as well as Venus can. What Venus Capital specializes in is helping an investor obtain or refinance a large multi-unit rental property and get outstanding financing options. Or maybe a small business is looking to expand their headquarters and needs some cash influx for a remodel or new building purchase. These are examples of situations Venus can shine brighter than the competition. With our incredible rates from superior providers, we deliver the best customer service and fastest turnaround time in the industry for large loans. Give us a call and find out for yourself.
Other Lending Solutions
We like to partner with our clients and establish a relation and well known in the community to help businesses without the cumbersome delays and red-tape in banks.
Proudly Cincinnati, Ohio, besides 40 other states nationwide.
Member of Columbus (New Albany Chamber of Commerce)
We can also serve these markets – CT, RI, NY, NJ, MA, PA, OH, DE, MD, DC, VA, NC, SC, FL, GA, TX, OR, CO, WA, WI, OR, IN
Call (614) 392-4111 for no obligation, free consultation Today! We are a certified Lending Advisory Firm.
Since we are local, we can come to meet you in person and open weekends too!