HCS Equity is a direct lender offering bridge loans to assist with short-term capital needs. A bridge loan, which maybe known as a gap loan, swing loan, bridge mortgage, or interim financing is an easy solution to assist with the purchase of new commercial or investment residential property when an existing property is not yet sold. Borrowers can use the equity in both properties to provide an option to close the purchase with little to no money down and compete with cash offers. Bridge loans take as little as 10 business day to close and will allow you to close the new transaction before selling the current property.
A bridge loan will allow you the time to market and sell the existing property in an orderly fashion, and not be pressured to liquidate at a below market price. HCS Equity loans have no prepayment penalty nor any minimum months of interest due, making them a perfect solution to your capital needs.
Bridge loans can be secured against properties currently listed for sale or in escrow. Credit and income are not a factor, and appraisals are not typically required. Either property can be in substandard condition which may preclude conventional financing until the property is improved or rented out. A gap loan or bridge loan also allows you to make an offer non-contingent on the sale of the existing property, which helps improve your chances of getting your offer accepted.