All of our loans are on automatic debit from the borrower's bank account on the first of the month. 

To view your account details or make a payment online, please go to myaccount.vastercapital.com 

If you do not have your log-in credentials, please reach out to support@vaster.com 

All payments are due on the first day of the month. 

For payment and account details, please contact support@vaster.com or log-in to your account at myaccount.vastercapital.com 

Vaster's interest only loan product is calculated based on simple interest, assuming 360 days per year.

To update your contact information, please reach out to our servicing team at support@vaster.com and include the contact changes you would like to make. 

To request a payoff letter, please contact our servicing department at 305-673-3011 or support@vaster.com

Partnering with Vaster gives you access to flexible loan solutions and attractive commissions. The best part is that we do not require a broker package for you to get started with us. You can submit a deal straight away on our website or connect with one of our bridge loan specialists to get a quote. 

A bridge loan is used as a short-term solution to finance real estate until permanent financing is secured.

Bridge loan payments are Interest Only (IO) and calculated with simple interest. By multiplying the loan amount and the interest rate, and dividing the result by 12 (months), you will get the monthly payment.

There are no principal amortization payments during the term of the loan. Principal is repaid at maturity with a lump-sum or balloon payment.

Yes. Vaster can provide loans to investors looking to pay off an existing mortgage that is reaching maturity or to reduce their current interest rates.

Yes. Both pre-construction and new construction condominiums are Vaster’s expertise. We lend on new construction condos and finance closing costs which helps many investors close without the need to bring cash to closing.

Vaster also lends on other types of residential assets such as single family homes, townhomes, condo-hotels ("condotels"), and vacant residential land.

Yes. A cash-out bridge loan allows investors to take equity out of a free & clear property. The cash out proceeds can then be used to remodel, to pay off an existing debt, or to invest in a new business.

It depends. If the remodeling work does not require significant structural changes or additions, you could get a cash-out loan with Vaster and use the loan proceeds to add new floors for example.

Yes. Vaster provides bridge loans on the following commercial assets:

• Retail
• Office
• Mixed-Use
• Multifamily
• Industrial
• Vacant land (zoned for commercial-use)

Yes. Vaster lends on residential and commercial land with as-of-right residential or commercial uses.

Yes. Some lenders offer construction bridge loans for building homes. Vaster currently does not provide ground up construction loans.

Institutional and private investment funds offer bridge loans.

Vaster provides bridge loans and can help you identifying and structuring your or your client’s financing needs. Click Here to get in contact with a Vaster Loan Originator.

At Vaster of course! Click here to get started with your loan request.

Qualification for a bridge loan depends on 3 factors: collateral, borrowing entity, and financial strength of the sponsor.

To discuss your financing needs please visit our contact page to connect with one of our Vaster Loan Specialists. 

Yes. Although Vaster runs credit checks on all sponsors, the approval decision is not credit score driven. However, major credit events like a recent foreclosure, bankruptcy, and/or judgement could affect eligibility for approval.

Yes. Loans with good payment history and overall performance could be eligible for extension.

Yes. Bridge loans can be refinanced and paid off with proceeds from another loan.

Home Equity Lines of Credit are usually offered by traditional banks to primary homeowners with excellent credit and financial profile. It is a fully documented and credit score driven loan.

Vaster provides Bridge Loans to corporate entities on investment properties. These loans require less documentation and are not credit score driven.

Hard Money or Hard Equity loans are based 100% on the quality of the property. Required documentation of the sponsor documentation is very light and almost nonexistent. Since no financial information of the sponsor is provided, the interest rates and fees on these loans are substantially higher.

Bridge loans, on the other hand, require more information about the sponsor’s financial strength. Bridge loans are designed for experienced and professional investors that need quick access to capital to execute real estate investment strategies. By providing information about the intended transaction and their financial strength, investors can access lower rates and fees.

A complete loan application is a signed copy of the application with supporting documentation attached. Click here to get started.

A bridge loan is used for those looking for an efficient and short-term financing solution that gets them to the closing table quickly. 

Yes! Foreigners can use bridge loans as they are designed with flexibility in mind. This means that you do not need a credit history or domestic income forms to qualify for this type of loan.

Most bridge loans range from 12 to 36 months. However, they can be paid off early with no penalty and many can also be extended, if needed, depending on your payment history.

Vaster's bridge loan application process is designed to be hassle-free and streamlined. A full bridge application includes the following:

• Signed and completed application
• Copy of passport
• Copy of state drivers license (For U.S. citizens)
• Copy of visa or green card (for Non-U.S. citizens)
• Signed purchase contract (if applicable)
• Copy of latest bank statement

It can be challenging for those who are self-employed to qualify for a loan. Thankfully, to qualify for a bridge loan, we do not request documentation related to your income. Instead, we will request documentation to verify your financial strength such as a copy of your bank statements.

The best way to prepare for a bridge loan application is to get in contact with one of our Vaster loan specialists. They assess your financing needs to ensure a bridge loan is the right fit for you before you apply and then guide you through the entire loan process. 

Click here to connect with a Vaster loan specialist.

You can close on a bridge loan with Vaster in as little as 10 business days. 

*Note that closing timelines are largely dependent on how quickly the borrower provides all necessary documentation required to close. 

Yes! Our loan processing team regularly conducts virtual closings and utilizes online notary services so our clients can close from anywhere in the world at a U.S. consulate or embassy. 

Vaster's bridge loan program is intended for commercial-use only, this means the property must be an investment property. We can offer bridge loan financing for residential assets such as single family homes, condos, townhomes, etc. but the borrower cannot use this property as a primary residence. 

For more information on common use-cases for bridge loans, please reach out. 

Yes. A property appraisal is necessary to receive any type of mortgage — including a bridge loan. The appraisal process verifies that the property is worth what you’re paying for it and helps mitigate some of the risk taken on by the lender. 

No. The best thing about bridge loans is the flexibility they offer in terms of what types of properties they can finance. This means that properties do not need to be Fannie Mae or Freddie Mac-approved in order to qualify for a bridge loan.

The cost of your bridge loan will depend on a variety of different factors, including your interest rate and closing costs. However, Vaster is always  transparent with you throughout the process — providing you with full visibility of the fees and costs of your mortgage so that there are no surprises and you’re prepared for closing and repayment.

If you would like to get a personalized estimate of closing costs before applying, please contact us.

Most lenders want to see a minimum FICO score of 620. However, for the best rate possible, your credit score should be over 740. (Keep in mind that the highest potential credit score possible is 850.)

To apply for a home loan or start the pre-approval process, you will need to provide the following documentation:

• Pay stubs
• W-2 statements and/or 1099 statements
• Tax returns 
• Bank statements
• Identification 
• Social security number

Compared to government-backed loans, a conventional mortgage is harder to obtain mainly due to the credit score and debt-to-income ratio needed to qualify. However, a conventional loan often offers better rates and terms than a government-backed loan.

Yes, all lenders will require homeowners insurance as a condition of your mortgage.

A conforming loan adheres to the guidelines set forth by Fannie Mae and Freddie Mac, two of the largest mortgage buyers in the U.S. These guidelines include requirements on:

• Credit score
• Loan amount
• Debt-to-income ratio (DTI)
• Down payment amount

A non-conforming loan is a loan that falls outside of the Fannie Mae and Freddie Mac guidelines. If your credit score or down payment amount is too low, or your DTI or loan amount is too high, you may find yourself needing a non-conforming loan. Common non-conforming loans include jumbo loans and government-backed loans such as VA, FHA, or USDA loans. 

Conventional loans allow a greater range of freedom than government loans as they typically have less restrictions on the types of properties you can buy. Those interested in a second home, vacation home, or investment property would be likely to look at conventional loan options. 

The average loan term for a conventional mortgage is 30 years. Some borrowers opt for a 15 year term if they want to pay off their loan faster and can afford the higher monthly payment. 

Now is definitely a good time to buy real estate as prices are still increasing with no sign of slowing down. With interest rates expected to rise in the near future, it makes sense to take advantage of these lower rates so that you can take advantage or your current buying power. 

Now is the ideal time to invest in real estate as the economy is recovering from the COVID-19 pandemic. Companies will again need commercial locations to conduct business. Renters will again need to lease apartments close to cities for in-person work.

Manufacturers will need to expand their operations to keep up with changes in supply and demand. So no matter what type of real estate you want to invest in, there’s no time like the present. 

For 2022, the conforming loan limit for a conventional mortgage for a one-unit property is $647,200. This limit is set by the Federal Housing Finance Agency (FHFA) and adjusted annually to reflect the change in the average U.S. home price. Keep in mind that high-cost areas are eligible for higher loan limits. Visit https://www.fhfa.gov/ for a list of 2022 conforming limits for all counties across the U.S.

For 2022, the conforming loan limit for a conventional mortgage in most Florida counties for a one unit property is $647,200. In Monroe County, the conforming loan limit for a one-unit property is $710,700 as it is recognized as a high cost area. Visit https://www.fhfa.gov/ for a list of 2022 conforming limits for all counties across the U.S.

Short for "Non-Qualified Mortgage" and also referred to as a portfolio loan, a Non-QM loan is one that does not adhere to the requirements set by the federal government in order to be eligible to be sold in the secondary market to government-sponsored entities such as Fannie Mae and Freddie Mac.

Examples of Non-QM loans includes:

• Portfolio loans
• Jumbo loans
• Bank statement loan 
• Alt-Doc loans
• No income loans (DSCR)
• Asset Based loans
• Foreign national loans (ITIN)

A jumbo loan is a mortgage where the loan amount exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA). For 2022, the conforming loan limit for one-unit property is $647,200.

A portfolio loan is a mortgage loan that is originated by a lender who holds the debt in their portfolio for the life of the loan instead of selling it through the secondary mortgage market to government-sponsored enterprises such as Fannie Mae or Freddie Mac.

A portfolio loan can be used when trying to finance a property that does not meet the guidelines to qualify for a conventional loan. Common property types that do not meet Fannie Mae and Freddie Mac guidelines include, but are not limited to:

• Vacant land
• Condo-hotels (”Condotels”)
• Agricultural properties

Additionally, a portfolio loan can be used by borrowers with major credit issues, lack of documentation to prove their income, or complex financials needs and goals.

While most lenders originate loans and then sell them on the secondary market after closing, a portfolio lender keeps the loan in their portfolio for the life of the loan. Holding a loan in their portfolio allows the lender to set their own approval standards. They can set the same standards as conforming loans, or they can create their own requirements. For example, a portfolio lender can have a lower credit score requirement, allow different forms of income verification/documentation, or higher debt-to-income ratios. 

Yes! Rental income can be used to qualify for a mortgage. The rental income must be properly reported on the IRS Form 1040, Schedule E. You must also provide proof that rental income is likely to continue by providing existing lease agreements. 

A no income loan allows real estate investors to qualify for a mortgage without using tax returns. In lieu of tax returns, the borrower must show proof of the property's cash flow. Lender's use the Debt Service Coverage Ratio, which is a ratio of a property's operating income to debt servicing for interest, principal, and lease payments to analyze how much of the income coming from the property can be used to cover current debt obligations. 

Also known as a self-employed mortgage or alternative documentation mortgage, a bank statement loan is a non-qm loan that allows you to qualify for a mortgage without the income documentation that a traditional mortgage would require like W-2s and pay stubs. This type of loan is a great choice for individuals who work for themselves or own a business such as consultants, small business owners, freelancers, lawyers, doctors, and real estate agents.

Below are some of the documentation you may need to provide to qualify for a bank statement loan:

• 12-24 month of personal or business bank statements
• Two years of self-employment history
• CPA letter that confirms business expenses 

A bank statement loan is commonly used by individuals who do not receive W-2’s or pay stubs because they work for themselves or own a business such as small business owners, consultants, freelancers, doctors, lawyers, and real estate agents.