Missouri Bridge Lenders for Residential Properties

Minnow Loan, a local Missouri direct private lender, funded a $125,000 1st lien position bridge loan secured by a single-family home in Kansas City, MO. The property value was estimated at $250,000 so our loan-to-value was 50%. This was a deal Minnow funded for an equity cash-out on a 1,591-square-foot house. The Borrower, who had average credit, needed cash to fix up the vacant property for resale. The property was in a very desirable area of Kansas City, and rehabbers had been trying to purchase it from the Borrower for a few years. He wanted to handle the rehab himself, so he pulled out the equity to start the project. His goal was to resell the property for a slightly higher price. The Borrower planned to put it on the market within the next 4-6 months. We held back 12 months of interest in an interest reserve account. The interest rate was 12.5% and we charged 3% origination points. The loan term was set at 12 months. This SFR refinance bridge loan was funded in July 2024.

Minnow Loan, a local Missouri direct private lender, funded a $117,790 1st lien position private money loan for a single-family home in Jefferson City, MO. We funded 79% of the $150,000 purchase price, while the Borrower contributed 21% cash to the purchase at closing. The 1,328-square-foot property had an estimated value of $180,000 as-is, putting us in a strong loan-to-value of 65%. Overall it was in good condition and was tenant-occupied at closing. It is approximately 1,328 square feet. The Borrower was an experienced real estate investor who had average credit, and this was their 2nd deal with us. They plan to continue leasing the property and eventually sell or refinance as an exit strategy in the next 12 months. The interest rate was 12.5% and we charged 3% origination points. The loan term was set at 12 months. This private money loan was funded in June 2024.

Minnow Loan, a local Missouri direct private lender, funded a $136,500 1st lien position refinance bridge loan secured by a single-family home in Florissant, MO. The property value was estimated at $195,000 so our loan-to-value was 70%. This was a new Borrower to Minnow Loan. The deal came to us from a Broker that had a lot of experience with this Borrower. The Borrower needed this refinance funded quickly and we were able to accommodate them with a closing in a week. The subject property is approximately 1,188 square feet, in good condition, and ready for tenant occupancy – it is a turn-key rental property. The Borrower had good credit. They plan to continue leasing the property and will eventually refinance into a long-term rental loan as an exit strategy. The interest rate was fixed at 12.5% with interest-only payments for the 12-month loan term and no prepayment penalty. We charged 3% origination points, and the Broker charged 2.5%. This refinance bridge loan was funded in April 2024.

Cityscape Finance, a direct private lending firm, funded a $328,000 refinance bridge loan secured by a single-family residence in Saint Louis, Missouri. The home’s estimated value was $505,000 so the loan-to-value for our 1st mortgage was 65%. The interest rate was 9.99%, and the loan term was set at 24 months. The Borrower had good credit. They inherited the property which had no existing debt. They needed funds to complete a renovation project which will get the property in rent-ready condition. They plan to refinance into a long-term rental loan once it’s stabilized with a new tenant. The property is located close to a University, which makes it easy to find renters. This SFR rental property bridge loan was funded in September 2022.

Cityscape Finance funded a $169,000 refinance bridge loan secured by a 2-unit residential property in St Louis, Missouri. The property’s estimated value was $260,000 so the loan-to-value for our 1st mortgage was 65%. The interest rate for our loan was 9.99% with interest-only payment, and the loan term was set at 24 months. The subject property, located near a university, was in good condition with a square footage of 1,970. The Borrower was an experienced investor who inherited the property and needed funds for a rehab project. They plan to lease the property, then refinance into a long-term rental loan before the end of the 24-month loan term. This residential property bridge loan was funded in September 2022.