FAQ
What types of investment properties does BridgeWell loan on?
Bridgewell provides funding for residential, non-owner occupied properties, as well as small commercial properties.
What states does BridgeWell lend in?
BridgeWell does business in select states throughout the US. Please see our Lending Map to see if we currently loan in your area.
How fast can BridgeWell close a loan?
BridgeWell routinely funds investors in as little as 10 days from start to finish. This can vary depending on the size and type of the investment project.
How does BridgeWell approve funding requests?
Our approvals are primarily based on an investor’s ability to succeed.
Does BridgeWell charge pre-payment penalties?
There are no pre-payment penalties for our Investor Rehab loans, and our Cash-out Refinances. Rental Property loans do have a pre-payment penalty for up to five years.
What is the minimum loan amounts offered by BridgeWell?
Our minimum loan amount is $100K.
Can I borrow rehab money?
Yes. Most of our loan programs include the option of funding for property rehab.
How much do you charge?
Our pricing is fair and straightforward with no junk fees or hidden charges at closing. A good faith estimate of all loan costs will be provided free-of-charge after loan request.
What is the minimum down payment required for your loans?
The Minimum down payment is 20% of the Purchase Price. This does not include closing costs.
Does BridgeWell provide Proof-of-Funds Letters?
Yes, BridgeWell provides Proof-of-Funds Letters to approved Investors with a one (1) business day turn around.
What is your maximum loan-to-value (“LTV”)?
The maximum loan-to-value is 75% of the After Repaired Value (“ARV”) of the investment property, depending on the loan program. The ARV is estimated by averaging recent comparable sales of arms-length transactions in the neighborhood. We typically do not use foreclosures or short sales for comparison, only conventional sales.
What is Debt Service Coverage Ratio?
Debt Service Coverage Ratio (DSCR) is a calculation that helps us determine if a rental investment is generating enough income to make its loan payment obligations. To calculate the debt service coverage ratio, simply divide the net operating income (Rental Income) by the annual debt (Principal, Interest, Taxes, Insurance and Association Fees).
Can I live in one of my rental properties or rent it to a friend or a family member?
No. BridgeWell provides commercial-only loans that are non-owner-occupied (investment) properties.