The interest rates and fees for bridge loans can vary depending on a variety of factors, including the lender, the borrower’s creditworthiness, and the specific terms of the loan.
In general, bridge loans tend to have higher interest rates than traditional loans, as they are considered a higher risk for the lender due to their short-term nature and the fact that they are often used for unconventional or higher-risk projects. Interest rates for bridge loans can range from around 6% to 12% or higher, depending on the circumstances.
In addition to interest rates, bridge loans may also come with a variety of fees, such as application fees, origination fees, underwriting fees, and closing costs. These fees can vary widely depending on the lender and the specific terms of the loan, so it’s important to carefully review the loan agreement and ask any questions before agreeing to the terms.