Bridge Loan
Bridge Loan for Vacant Land Refinance in Waikoloa, Hawaii
- Loan Amount
- $100,000
- Loan-to-Value
- 31.74%
- Interest-Only Term
- 12 Months
- Private Loan Type
- Bridge Loan
- Approx. Funding Date
- June 2, 2025
- Property Type
- Residential Land
Deal Summary
Myers Capital Hawaii, a residential and commercial mortgage banking company and direct private lender, partnered with its affiliate, Koa Mortgage Fund, to fund a $100,000 refinance bridge loan secured by vacant land in Waikoloa, HI. The loan featured a conservative 31.74% loan-to-value ratio, based on a $315,000 estimated property value. The Borrower—an experienced home builder and real estate investor with strong credit—utilized the short-term loan to settle a maturing land note. This strategic refinance removed the pressure of an immediate balloon payment and gave time to advance the property’s planning and development. The Borrower plans to repay the loan using personal funds within the 12-month term. The lot size is approximately 10,018 square feet or 0.23 acres. The loan carries a 14.5% interest rate and includes a 12-month guaranteed interest provision. This land bridge loan was funded in June 2025.
Deal Highlights
- Borrower owns vacant land in Waikoloa, Hawaii, with a balloon payment coming due.
- They refinanced the land loan, eliminating immediate payoff risk.
- Gained time to complete planning and development for the property.
- Exit Strategy: Repay the bridge loan using personal funds.
Property & Loan Details
- Property City
- Waikoloa
- Property State
- HI
- Loan Term (months)
- 12
- Lien Type
- 1st Mortgage
- Payment Type
- Interest Only
- Property Value
- $315,000
- Property Neighborhood
- Waikoloa
- Location Type
- Rural
- Property Condition
- Good
- Occupancy at Closing
- Vacant
- Number of Units
- 1
- Lot Square Footage
- 10,018
- Lot Acreage
- 0.23
- Borrower's Plan
- Development
- Exit Strategy
- Pay Down
- Borrower Credit Rating
- Excellent
- Interest Rate
- 14.5%
Loan Originator
Reed Myers
Principal
Reed is also Principal of Myers Capital, an award-winning, privately-owned residential and commercial mortgage banking company and direct private lender based in Honolulu, Hawaii. As a second-generation family business owner, Reed is personally involved in over $2 billion in loan originations, helping thousands of clients throughout the country. He holds active mortgage loan origination licenses in Hawaii and multiple states. He is also an experienced real estate investor throughout Hawaii and the mainland. Myers Capital provides efficient mortgage lending and real estate advisory services in 42 states.
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