FAQs

What is the difference between FFBRIDGE vs Traditional Bridge Program offered at other institutions?

FFBRIDGE is intended for properties with limited renovation requirements and for investors looking for a short term financing that can manage the project and budget without help of the lender. FFBRIDGE will disburse 100% of the funds without hold back or other methods of fund control.  FFBRIDGE allows seasoned investors to achieve better cash flow while repositioning without additional work of providing the lender with quarterly budget analysis or any other financial information until the end of the Bridge Term.

What is the purpose of FFBRIDGE?

• To obtain higher loan based on market upside
• To reposition the asset
• Better Cash Flow while repositioning
• Refinance maturing debt with vacancy than the usual norm of 5%-10%
• Loan Consolidation
• Partnership Buyouts
• Builder Inventory Loans
• 1031 tax deferred exchange facilitation (reverse exchange loans with accommodator)

How is FFBRIDGE sized at entry vs exit?

Our FFBRIDGE Program is initially sized at the current rate of 4.500%-5.25% and must meet minimum of 1:1 DSCR on interest only basis. The pro-forma takes into consideration of market rents, is then resized at 4.00% (stress rate), and must meet minimum of 1.25 DSCR.

What other information is needed to qualify for FFBRIDGE?

Post-Closing Business Plan is required and should address the following:

• A detailed cost breakdown of items that will be completed by the sponsor (soft costs, hard costs, buyouts, leasing costs, any other costs associated with repositioning of the project).
• A pro-forma once the renovations are completed.
• Renderings, renovation plans, if any (please keep in mind that these should be limited to minor cosmetic renovations).
• Plans on how the rent controlled units will be addressed given the current moratorium along with a budget for tenant buyouts if part of the plan.