Bridge Loan
- Loan Amount $860,000
- LTV 80%
- Interest Rate 10.5%
- Brooklyn, NY
A bridge loan for $860,000 has been issued with an LTV (Loan to Value) ratio of 80%, indicating that the loan amount represents 80% of the property’s appraised value. This suggests that the total value of the property is approximately $1,075,000. The loan, secured on a property located in Brooklyn, NY, carries an interest rate of 10.5%. Bridge loans like this are typically short-term financing options used to “bridge” the gap between immediate funding requirements and longer-term financing solutions, often in real estate transactions.
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718-704-0499