Investing in real estate is a trusted way to grow your finances, and the best part is that you don’t need to save up an insane amount of funds to get started. Many commercial real estate lenders help you finance investment or rental properties seamlessly, provided you qualify for their products.
BridgeWell Capital is a private lender based in Orlando, Florida, with a range of products to support different property investment needs. Our guide will help you explore and evaluate the lender’s loan packages for multiple scenarios.
Besides product suitability, we will also discuss:
- The application process at BridgeWell Capital
- General customer reviews of the lender
- Other quality investment property lenders you can work with
What Are the Financing Products Available at BridgeWell Capital?
Commercial lending services offered by banks can be painfully slow because of the red tape associated with the processing. Private lenders like BridgeWell Capital aim to make investment financing more accessible to the general public by offering loans based on the equity in a property—essentially, hard money loans.
Hard money loans are no-nonsense asset-based loans serviced beyond the inflexible lending guidelines that banks have to follow. A hard money lender merely has to verify if the asset held as collateral can cover the loan in case of default. Because the loan is 100% backed by real estate, lenders often have lenient entry requirements in terms of personal finances.
BridgeWell Capital currently offers the following loan programs built around hard money financing:
- Rental loans
- Property rehabilitation loans
- Cash-out refi (short for refinance)
- Institutional real estate loans (can be used for residential and commercial properties)
The lender only deals with non-owner occupied properties, although the team may consider mixed-use properties if it brings enough yield.
Most investment property loans are offered for short tenures (1–3 years) because the borrower typically manages cash inflow by selling the property within the timeframe. It’s fairly difficult to acquire funds for rental properties because the cash flow from the investment—the rental income—comes in gradually.
Source: Brandon Griggs
BridgeWell Capital has designed a special rental property program that allows borrowers to hold the property for up to five years. The annual percentage rates (APR) start at 8.95%, which means your annual interest output will amount to at least 8.95% of your yearly outstanding balance.
The lender requires around 25% down payment on purchase-based rental loans. You can also go for rate-and-term and cash-out refinance options—if you choose the latter, you can borrow an additional amount of up to 65% of the equity you’ve built in the property.
You qualify for BridgeWell Capital’s rental loans based on your property’s Debt Service Coverage Ratio (DSCR), which measures the annual rental income against five debt components:
- Association fees
You must disclose details/paperwork about these components during the screening stage.
Property Rehabilitation Loans
Property rehabilitation or flipping is one of the most popular avenues for real estate investment. All you have to do is buy a rundown property for cheap and increase its market value by sprucing it up with adequate repairs. BridgeWell Capital provides two programs for property rehabilitation, described briefly in the following table:
|Rehab Program||BridgeWell Capital Financing|
|Fix-to-flip||Fix-to-flip deals help you generate a quick income, as you get to sell the property soon after it’s finished. The lender offers fix-to-flip loans for a short duration, and the APR can be 6% and up, depending on your investment profitability|
|Fix-to-rent||Fix-to-rent deals allow you to collect passive income after renovations, so these loans can have a tenure of up to five years. While the interest rate during the rehab period is the same as fix-to-flip rates, you may have to pay a higher rate once the construction is over|
You can secure BridgeWell Capital’s rehab loans for up to 100% of the construction cost or up to 75% of the after-repair value (ARV). You typically have to follow a draw schedule to withdraw funds, but you won’t be charged any interest on the undrawn amount remaining at the end of the rehab.
BridgeWell Capital offers a cash-out refinance program for investors who want to free up capital from their current holdings. Cash-out refi loans are based on the borrower’s ownership in the property, denoted by the equity value.
For example, if your property is currently valued at $400,000, and your total mortgage liability is $100,000, $300,000 will be your equity. BridgeWell Capital can loan you $100,000 to settle the loan plus a percentage of $300,000 in cash.
An attractive aspect of the lender is that the borrowers are not required to explain the end use of the cash-out funds. You can deploy it to get another rehab property, start new construction, or even manage personal expenses—BridgeWell Capital has no restrictions about that.
While the products we’ve discussed until now have no specific credit score requirements, the lender’s cash-out refi program is only open to investors with a minimum FICO score of 620. The relevant interest rates are not mentioned online.
Institutional Real Estate Loans—For Residential and Commercial Properties
BridgeWell Capital’s institutional real estate loans are available for capital-intensive residential and commercial projects. You can use these loans to acquire, rehabilitate, or refinance properties like:
- Multi-unit residential complexes
- Office buildings
- Industrial structures
- Mixed-use properties (you shouldn’t live in it, though)
These loans don’t follow fixed lending guidelines and are tailored according to the size and risk metrics of your project.
Source: cottonbro studio
How To Get a Deal Funded at BridgeWell Capital
You can request funding from BridgeWell Capital by filling out an online questionnaire called the Online Loan Request form. The form is pretty extensive—you have to provide all kinds of business and personal info, including:
- Credit score
- Available cash reserves
- Real estate experience
The lender’s representative will reach out to discuss your eligibility for the loan. You may be assigned a Personal Loan Concierge if you’re a VIP customer.
BridgeWell Capital—What Works and What Doesn’t
BridgeWell Capital has funded over $500 million since its inception and enjoys mostly good reviews online. The lender does not carry out tedious income verifications and can fund deals within three weeks at competitive rates, making it a more efficient option compared to commercial banks. That being said, BridgeWell Capital may not be for everybody.
The lender mostly caters to successful real estate investors, so small-scale borrowers may want to explore other options. While many hard money lenders serve deals based on a profitability assessment, BridgeWell Capital may reject applications due to factors like:
- Low credit score—Many BridgeWell Capital programs require a minimum credit score of 620, so having a lower score can put you at a disadvantage
- Unserviceable amount—The lender generally services loans in the range of $100,000 to $1,000,000. Requests outside this radar may not be entertained
- Incompatible location—BridgeWell Capital handles property dealings in selected cities of over two dozen states. For example, Florida borrowers can only request a loan for properties in the following cities:
- Tampa Bay Area
BridgeWell Capital has moderate documentation requirements. It has no ceiling for maximum rates, which can be a problem. We have noticed some reviews from consumers dissatisfied with the last-minute change of loan terms right after the completion of extensive paperwork.
If BridgeWell Capital doesn’t work out for you, you can also explore Hard Money Loan Solutions (HMLS)—a highly flexible hard money lender catering to:
- New and experienced property investors
Real Estate Deals Go Real Smooth With Hard Money Loan Solutions!
Hard Money Loan Solutions is headquartered in Delray Beach, Florida, offering the complete suite of asset-based loans for commercial, residential (including self-occupied), rental, investment, and mixed-use properties. HMLS is a team of real estate veterans driven by communal growth—they are not interested in mere quick returns but want every borrower, big or small, to enjoy timely access to cash.
Source: Karolina Grabowska
At HMLS, you can get hard money loans for:
- Asset acquisition—HMLS can help you acquire all types of real estate, including single-family homes, multi-family homes, townhouses, condos, apartments, land, and any industrial or commercial structure. The group can also facilitate business acquisitions
- Refinance—HMLS offers both rate-and-term and cash-out refinance programs. If you choose cash-out, you’re free to deploy the funds as you please
- Rehab and construction—HMLS provides convenient rehab, fix-and-flip, fix-to-rent, and construction financing with minimal documentation and no intrusive bank account checks
- Debt consolidation—If you have outstanding high-interest loans, HMLS can help streamline them into a single product with manageable payments
- Foreclosure prevention—If you’re troubled by an existing mortgage or are facing foreclosure, refinance with HMLS to salvage the situation
- Temporary financing—HMLS also offers handy bridge loans that provide seamless liquidity during emergencies or while transitioning between properties
HMLS has no minimum credit score requirement—contact the lender today to get a tailor-made loan offer!
Why Choose HMLS Over Other Lenders?
HMLS is a 5-star rated lender with a track record of funding even complicated deals with ease and speed. The group outshines immediate competitors by following the best hard money lending standards, which include:
- Communication and cost transparency
- Competitive rates
- Minimal paperwork
- Fast delivery (average funding time being 3–10 days)
- Guaranteed funding on defined terms
- Flexible approach
- Professional and friendly behavior
Source: Google Reviews
With HMLS, you get a higher funding limit compared to other lenders. You only pay the interest during the tenure, so the financial burden is a lot smaller when compared to amortized loans. The lender also doesn’t charge upfront, inspection, processing, underwriting, digital retention, and other junk fees, saving you thousands of dollars.
You can browse through the essential components of HMLS products in the following table:
|Principal||$100,000 to $50,000,000+|
|Term||1–3 years (can be renewed for rental properties if the collateral quality sustains)|
|Installment type||Interest only (no amortization)|
|LTV offered||Up to 70% of the lower of:|
• As-in value
• Purchase price or costs (as applicable)
|Down payment||Not required|
|Origination fee||2 points or 2%|
|Prepayment penalty||No (if repaid after six months)|
|Eligible borrowers||• Individuals (including foreign nationals)|
• Business entities
|Qualification requirements||• Have equity in the property|
• Present the profitability of the deal or have a rough repayment strategy
Get free consultancy from HMLS experts on loan packages meeting your financing goals. You’ll also enjoy committed one-on-one guidance throughout the tenure.
How Does HMLS Fund Deals?
HMLS funds any deal as long as the investment makes sense. The group’s lenders also carry out quick appraisals to verify property value as part of their due diligence process.
Complete a simple online form to request funding from HMLS—here’s what the process entails:
- Navigate to the Get Approved Today page
- Specify your contact info
- Enter details about your property
- Add any customized message (optional)
- Upload a picture of the property (optional)
- Submit the form—a lender will call you shortly
HMLS never collects or stores details about your personal finances. Be upfront about your needs with the lender so that they design the most beneficial package for you.
If you’re not in a hurry, you can also explore other lenders and compare their quotes with HMLS. Check out the reviews of some top investment lenders below:
- M&M Private Lending Group
- Monroe Funding Corp
- The Associates Home Loans of Florida, Inc.
- Taylor Made Lending
- Hard Money Lenders IO
- RBI Private Lending
- A to Z Capital
- Capital Funding Financial, LLC
Featured image source: Memento Media