By:Michael Southard A bridge loan, which can also be called a hard money loan, is a short-term loan that is used until a person or company can secure permanent financing. Basically, they "bridge" the gap between today's need for immediate cash to pay bills and the final closing of a pending investment deal or long-term financing package. Bridge loans are usually offered for terms of 12-36 months and many can be refinanced into low cost, long-term financing through a lender. Bridge loans are not only for shorter terms, but are also needed to close quickly, so the borrower can take advantage of the opportunity to arrange for a longer term loan when they are ready. Speed is also an important factor in financing a bridge loan because the borrower may be trying to restructure debt or avoid claming bankruptcy. Some borrowers look for a bridge loan to span the gap between the two transactions of buying a new home and selling the old one. However, most bridge loans are used in purchasing or refinancing commercial real estate. There are mortgage bridge loans and commercial bridge loans for various income properties including; apartments, industrial buildings, retail, hotels, healthcare, and mixed use. For more information on a bridge loan, visit Security National Capital. Article Source: http://www.dailynewarticles.com Michael Southard is the Vice President of Security National Capital. More Articles from Loans Category: Student Loan Refinance And Its Value To Students Refinancing Home Mortgages to Extend Your Term The Advantgaes of Refinancing A Home Mortgage Bad Credit Auto Loan Refinance For You Various Aspects of Refinancing Refinance Your High Interest Current Mortgage Multifamily Refinancing, The Right Choice for You Refinance Loan Options And Know-how Streamline Refinancing Refinancing or Home Equity Loan: Which Way to Go? Re-Refinancing is the New Theme Refinancing Home Equity Loans The Need For Mortgage Guarantee Insurance Getting Financing From Banks For Real Estate Investing Steps For Those With Bad Credit To Obtain Small Business Loans