Missouri Bridge Lenders for Residential Real Estate

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.