Hawaii Bridge Lenders for Residential Properties
Are you seeking a bridge loan secured by residential property in Hawaii? On this page you'll find a list of select bridge lenders for Hawaii investment properties with 1 to 4 units. To get a 1st lien bridge loan, you must have at least 30% equity. Due to state laws and regulations, it's not possible to get a bridge loan for a homestead (owner-occupied primary residence) or 2nd home. Change the loan type to 'Residential Owner-Occupied' to find some alternative lending options.Searching...
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Hawaii Bridge Loan Interest Rates
According to the loan documents software company, Lightning Docs, the average interest rate for Hawaii bridge loans in the 1st quarter of 2024 was 11.27%. The average loan amount was $631,827. These stats are the average of 52 short-term loans (including rehab and ground-up construction loans) funded for properties in Hawaii between January 1, 2024 and March 31, 2024 by multiple bridge lenders that use Lightning Docs as their preferred software provider to prepare loan documents.
According to private lending data provider, Analytics Logics, the average interest rate for bridge loans secured by residential investment properties in Hawaii in the 1st quarter of 2024 was 10.92%. Lenders charged an average of 1.4% points (origination fee). The average LTV (loan-to-value) for bridge loans in Hawaii was 61%, and the average loan amount was $646,300. These stats are the average of all the loans which were funded between January 1, 2024 and March 31, 2024 by the many private lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Top 10 Hawaii Bridge Loan Lenders
According to Forecasaâ„¢, here are the Top 10 Bridge Lenders ranked by the number of bridge loans originated in Hawaii in the last 12 months from March 2024.
- Conventus LLC
- Temple View Capital
- Visio Lending
- Fundloans Capital
- Lima One Capital LLC
- Archwest Funding
- Marshall Reddick Mortgage Fund LLC
- Velocity Commercial Capital
- American Heritage Lending LLC
- Champions Funding LLC
Forecasaâ„¢ provides analytics data for Hawaii bridge loans on a quarterly basis. You’ll find their top lenders data for many other states on our platform.
Funded Bridge Loans in Hawaii
Myers Capital Hawaii, a direct private lender, funded a $180,000 1st lien position bridge loan for the acquisition of a condominium in Kailua-Kona, HI. We funded 80% of the $225,000 purchase price, while the Borrower contributed 20% cash at closing. It was a fast-moving opportunity in which the Borrower needed to close quickly. We were able to complete the transaction in under 14 days. The 1-bedroom, 1-bath condominium had significant deferred maintenance at the time of closing. The Borrower is an experienced real estate investor and they plan to renovate the property with their own funds. We did not include a hold-back of rehab money in this loan. The Borrower had excellent credit. Once the renovations are completed, they plan to sell the condominium for a profit. The condo was vacant at closing. It is approximately 524 square feet. The interest rate was 12.99%. The loan term was set at 12 months. This purchase bridge loan was funded in March 2024.