Term: Bridge Loan (Bond/Loan Term)

Field: Bond/Loan Term

Definition:
A loan which enables a buyer to purchase a property, then allow for time to rehab and/or increase NOI prior to placement of permanent financing or enables buyer to get financing to make a down payment and pay closing costs before selling the present property. Also called "gap" financing. This type of financing is provided by real estate investment banks such as Pacific Security Capital.