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Bridge loan process

From inquiry to payoff

Seven steps, written out. Here is what happens, what we need and what you get back at each one.

01 / The steps

  1. 01

    Inquiry

    The form, and what to include so the first answer is useful.

    You send
    Property address, purchase price, loan amount, timeline and exit.
    We do
    Read it and check the basic fit: property type, location, size and purpose.
    You receive
    A yes, a no, or a short list of questions.
  2. 02

    First read

    We review the property, the numbers and your experience, and tell you early if it is not a fit.

    You send
    Purchase contract, rehab budget, resale support and a short list of past projects.
    We do
    Look at the house, the budget and the exit, and ask a few questions by phone or email if we need to.
    You receive
    A clear answer, and indicative terms if it fits.
  3. 03

    Term sheet

    Rate, points, term, loan amount and any minimum interest, all written out before you commit to anything.

    You send
    Your go-ahead on the terms.
    We do
    Write the terms out in full.
    You receive
    A term sheet, subject to underwriting and final loan documents.
  4. 04

    Underwriting

    Property value and condition, rehab budget, exit plan, entity documents, and title through your closing attorney.

    You send
    Entity documents and your closing attorney's details.
    We do
    Underwrite the property and the exit, and coordinate title with your attorney.
    You receive
    Final terms and loan documents.
  5. 05

    Closing

    Documents are signed through your closing attorney, funds are wired to the attorney, and our lien is recorded in first position.

    You send
    Signed documents and evidence of insurance, through your attorney.
    We do
    Wire funds to your closing attorney.
    You receive
    A funded loan.
  6. 06

    During the loan

    You do the work. If the timeline moves, talk to us about an extension before maturity.

    You send
    A short update if the plan or the timeline changes.
    We do
    Stay out of the way, and set out extension terms if you need more time.
    You receive
    An extension, for a fee, when one is needed and approved.
  7. 07

    Payoff

    Request a payoff letter, close your sale or refinance, and the lien is released. No prepayment penalty.

    You send
    A payoff request with your expected closing date.
    We do
    Prepare the payoff letter with a per diem.
    You receive
    The letter, typically within one business day, and a lien release after payoff.

02 / Avoiding delays

What slows a deal down, and how to avoid it

  • No signed contract yet. Send the inquiry anyway and tell us where you are. We can give a first read; terms wait for a contract.
  • Title questions found late. Ask your attorney to start title work as soon as you are under contract.
  • No closing attorney named. Choose one early. Funds are wired to the attorney, so nothing closes without one.
  • Renovation budget not written down. A line-item budget, even a simple one, answers most of our questions.

Send these with your inquiry to move faster

  • Purchase contract
  • Photos of the property
  • Renovation budget
  • Comparable sales for the resale value
  • Borrowing entity name
  • Closing attorney contact

03 / Questions

Questions

Do you lend on owner-occupied homes?
No. We make business-purpose loans only, on non-owner-occupied property.
Do you make consumer loans?
No. Business-purpose loans only, to entities and investors.
Where do you lend?
North Carolina and Virginia.
Is there a prepayment penalty?
No. Some loans carry a minimum interest amount; if yours does, the term sheet says so.
Can I extend?
Typically yes, for a fee. Ask before your maturity date.
Who handles the closing?
Your closing attorney. We wire funds there.
Can you guarantee a rate?
No. The terms on this site are typical of loans we have made, and every loan is subject to underwriting.
Are you a bank?
No. Jacobsen Capital is the family office of Will Jacobsen.

Have a deal under contract?

Send the address, the numbers and what you need. You will get a clear yes, a clear no, or a short list of what we need to decide.

Start an inquiry

Business-purpose loans only. North Carolina and Virginia.