First National’s bridge loans are ideal for borrowers who have yet to secure construction financing or who need the time and flexibility to plan the best future use of their land.
First National’s bridge loans are short-term in nature and used until construction financing is secured. Some borrowers choose bridge financing when they need the flexibility to plot the future of their assets.
Bridge financing includes floating interest rates and usually allows some form of early prepayment.
A borrower’s expertise, net worth and liquidity, location and quality of the site are key considerations for this type of financing.