If you do not have the down payment necessary to make a purchase, Northwest Private Lending can provide you with a Bridge loan and give you the capital you need quickly. If that borrower owns other property which has equity, they can use it to “bridge” the gap in their down payment on a new property.
When you cross collateralize, bridge lenders can use the value from multiple properties as a basis to give you a loan. This is very common in 1031 exchanges or reverse 1031 exchanges.
For more information on Bridge loans, please contact Northwest Private Lending in Lake Oswego, OR today.