Fresno First Bank provides top-notch service for investors seeking shorter-term loans for value add properties. The program is a great option for seasoned investors to utilize while repositioning and stabilizing the property.
FFBRIDGE is a program for properties that have substantial upside to market and require minor cosmetic rehabilitation. FFBRIDGE offers anywhere from 12 months to 18 months without any holdbacks, reserves or monitoring of the project. We offer competitive rates and terms and utmost dependability in getting loans closed.
What is the difference between FFBRIDGE vs Traditional Bridge Program offered at other institutions?
FFBRIDGE is intended for properties with limited renovation requirements and for investors looking for a short term financing that can manage the project and budget without help of the lender. FFBRIDGE will disburse 100% of the funds without hold back or other methods of fund control. FFBRIDGE allows seasoned investors to achieve better cash flow while repositioning without additional work of providing the lender with quarterly budget analysis or any other financial information until the end of the Bridge Term.
What is the purpose of FFBRIDGE?
How is FFBRIDGE sized at entry vs exit?
Our FFBRIDGE Program is initially sized at the current rate of 4.500%-5.25% and must meet minimum of 1:1 DSCR on interest only basis. The pro-forma takes into consideration of market rents, is then resized at 4.00% (stress rate), and must meet minimum of 1.25 DSCR.
What other information is needed to qualify for FFBRIDGE?
Post-Closing Business Plan is required and should address the following: