Educational information only, not legal, tax or financial advice. Examples and calculations may contain errors; verify them with your own advisors. Advertised starting rates are annual interest, not APR; one point equals 1% of the loan amount. Other fees and costs may apply, and all financing is subject to underwriting.
When a bridge loan fits a Miami apartment deal
A bridge loan works when a rental building is not ready for long-term financing yet: units are vacant or below market, the building needs repairs, or the purchase has to close faster than a bank allows. The bridge loan carries the property through the work; a long-term loan or a sale repays it.
Budget for South Florida carrying costs
Insurance, property taxes and building repairs can move quickly in South Florida. Use current insurance quotes and real repair estimates, not last year's bills, so the plan still works if costs rise during the loan. Confirm flood-zone status for the specific address with the county or your insurance advisor.
What the lender wants to see
The address, purchase contract or current value, today's rent roll, operating expenses, the renovation scope and budget, and the rents you expect after the work. Keep current rents and projected rents clearly separate.
Terms
Crosby Lending considers investment multifamily from $100K to $50M, up to 65% of value, rates from 9% annually and origination from 1 point, subject to underwriting. These are starting terms, not a quote or APR. Owner-occupied homes and consumer loans are not eligible.
Plan the exit before you close
Most investors refinance into a DSCR, agency or bank loan once units are leased and income is documented. Ask a long-term lender early what occupancy and income history it needs, and keep a backup plan if lease-up takes longer than expected.
Related guides
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