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Bridge Loan North Dakota

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Last Updated: April 30, 2025

At OfferMarket, we’re passionate about fueling your growth as a real estate investor — and we know that success looks a little different in North Dakota.
Through our all-in-one investment platform, we give you the tools you need to scale smartly with:

💰 Personalized private lending solutions
☂️ Access to deeply competitive insurance pricing
🏚️ Early access to exclusive off-market property opportunities

Our North Dakota Bridge Loan program delivers fast, flexible, and cost-effective financing designed for real estate investors targeting 1–4 unit residential properties across the state — from the vibrant neighborhoods of Fargo to the expanding suburbs around Bismarck and Grand Forks.

Whether your strategy is to rehab and flip for quick profit, or to buy, renovate, and refinance into a DSCR loan for passive rental income, we're here to power your next move.

Let’s jump into everything you need to know about the North Dakota Bridge Loan Program!

What is a Bridge Loan?

A bridge loan offers a short-term financing solution that fills the gap between buying today and securing long-term funding tomorrow. For investors in cities like Minot, Dickinson, and Williston, bridge loans offer the flexibility to buy and improve properties without draining personal reserves.

Common Bridge Loan Scenarios

Across North Dakota — from the fast-moving markets of Fargo to the quieter rural counties — bridge loans are the essential tool for tackling opportunities like:

  • Acquiring and renovating distressed properties:
    Perfect for snapping up fixer-uppers in places like Jamestown or West Fargo without tying up your cash.
  • Cash-out refinancing after a cash purchase:
    Closed quickly on a property in Bismarck with cash? Use a bridge loan to access liquidity and kick off renovations.
  • Refinancing an active rehab project:
    When your initial lender demands repayment mid-project — say, during a Grand Forks rehab — a bridge loan keeps your momentum alive.
  • Purchasing undervalued properties with no rehab needed:
    Ideal for capitalizing on below-market deals in growing areas like Mandan, without needing major upgrades.
  • Refinancing a cash buy with no improvements:
    Bought low in Valley City? Unlock that property’s equity without swinging a hammer.
  • Refinancing after finishing renovations:
    Whether you’ve rehabbed in Fargo’s booming neighborhoods or revitalized a rental in Devils Lake, a bridge loan gives you time to sell or refinance properly.

Among private lenders and investors throughout North Dakota, bridge loans are often called "hard money loans" or "fix and flip loans" — different names for the same flexible tool.

How it Works

Our North Dakota bridge loan program is built on two pillars of flexibility:

Initial Advance:
Funding sent directly to the title company at closing, covering part or all of the property’s purchase price.

Construction Holdback:
Funds reserved for renovations, released in stages as your project in, say, Grand Forks or Dickinson moves forward.

Fix and Flip Loan Components, Cost Basis = Purchase Price + Rehab Budget, Total Loan Amount = Initial Advance + Construction Holdback, Down Payment, ARV

You can use just the construction holdback if you already own the property and need renovation funds. Or, if you’re simply purchasing a rent-ready duplex in Fargo, you might only tap the initial advance.

Most investors across North Dakota wisely combine both — maximizing buying power and keeping more cash free for additional deals.

Some North Dakota investors even pay cash upfront to win competitive properties and then leverage the construction holdback to fully finance the rehab phase — staying agile and liquid.

With the North Dakota Bridge Loan from OfferMarket, your financing flexes to match your needs — whether you're flipping a triplex in Minot or scaling your BRRRR portfolio in Bismarck.

Planning to flip but might switch to holding if rental demand surges? Starting with a rental plan but may sell if prices spike?
No problem — our bridge loan structure is designed for real-world flexibility.

Savvy investors know: in markets like North Dakota — where the economy can shift with agriculture, energy, and university-driven demand — having dual exit strategies isn't just smart, it's essential.

Who Typically Uses Bridge Loans?

Across North Dakota — from Fargo to Bismarck to the oil fields around Williston — a wide range of real estate investors rely on bridge loans to fuel their growth:

Fix-and-flip investors:
Those scooping up aging homes in places like Grand Forks and breathing new life into them for fast resale.

Buy-and-hold investors:
BRRRR method enthusiasts, building rental portfolios in rapidly growing cities like West Fargo and Minot.

Want to supercharge your rental investments? Be sure to check out our Fix and Rent bundle — pairing your North Dakota bridge loan with a discounted DSCR refinance, so you can maximize returns on your projects.

Many savvy investors we work with across North Dakota balance both strategies — flipping some properties while holding others as long-term rentals, depending on market conditions and project performance.

North Dakota Bridge Loan Program Guidelines

Criteria Guideline
Loan amount (minimum) $25,000
Loan amount (maximum) $2,000,000
ARV (After Repair Value) Minimum $100,000
Experience Not required
Credit score (minimum) 680
Borrowing entity LLC or Corporation
Initial advance Up to 90%
Construction holdback Up to 100%
LTARV (maximum loan-to-ARV) 75%
Interest rate Instant quote available
Origination fee 1.5 to 2 points
Term 12 to 24 months
Points out None
Prepayment penalty None
Structure Interest-only with balloon payment
Recourse Full recourse (51% of entity must guarantee)
Exit strategy: Sale Minimum 30% ROI
Exit strategy: Refinance Minimum 1.1 DSCR post-repair
Valuation Appraisal or in-house valuation
Property square footage (min) Single-family: 700+ sq ft; 2–4 units: 500+ sq ft per unit; Condo: 500+ sq ft
Acreage (maximum) 5 acres
Interest accrual Full boat for loans under $100K; as disbursed for loans $100K+
Advanced draws Lender discretion
Minimum down payment $10,000

Project Eligibility

At OfferMarket, we’re fiercely committed to your success as a North Dakota real estate investor.
Our underwriting aims to help you grow your portfolio — without taking on unnecessary risk.

Thanks to careful screening, less than 0.5% of all OfferMarket loans have ever required foreclosure — one of the best track records in private lending nationwide.

We aim to help North Dakota investors avoid risky projects, especially those involving major rehabs by first-time flippers. From Fargo to rural Bottineau County, we know that smart project selection is key to consistent wins.

If the market shifts — and it often does in North Dakota with energy prices and weather cycles — you’ll be grateful for conservative planning and manageable rehab scopes.

Initial Advance: How It’s Determined

Several borrower- and project-specific factors impact how much you’ll receive for your North Dakota bridge loan’s initial advance:

  • Number of properties owned in the last 24 months

  • Number of successful rehab projects completed in the past 5 years

  • Minimum 680 credit score (720+ preferred for stronger terms)

We also offer enhanced leverage if you are:

  • A licensed Realtor

  • A licensed General Contractor

  • A licensed Professional Engineer

Important:
If your property’s purchase price is higher than its appraised "As Is" value (common for distressed assets in places like Minot or Dickinson), your initial advance will be based on the As Is value.

Selling your property?
We require a projected 30% minimum gross margin and at least $15,000 in profit.

Planning to rent and refinance?
Your DSCR after rehab must be no less than 1.1.

Need help running the numbers?
Use OfferMarket’s Fix and Flip Calculator and DSCR Calculator — tailored tools to help North Dakota investors analyze deals confidently.

Note:
Properties in rural counties (like McLean or Cavalier County) may face stricter initial advance limits and minimum experience requirements.

Experience-Based Tiers

Tier Verifiable Experience (Completed Projects)
1 0
2 1–2
3 3–4
4 5–9
5 10+

Initial Advance by Tier

Tier Initial Advance (% of Purchase Price)
1 80% (up to 85% for strong credit/liquidity)
2 85%
3 85%
4 90%
5 90%

Initial Advance Adjustments

Scenario Adjustment
Credit score under 720 -5%
Full gut rehab project -5%
Borrower new to market -5%
Licensed Realtor Up to +5%
Licensed General Contractor Up to +10%
Licensed Professional Engineer Up to +10%
Rural property -20% (Tier 3+ required)

Rehab Scope Classification

Rehab Scope Definition
Light Rehab budget <25% of purchase price
Moderate Rehab budget 25%–49.99% of purchase price
Heavy Rehab budget 50%–99.99% of purchase price
Extensive Rehab budget ≥100% of purchase price (includes additions, ADUs, expansions)*

*Extensive rehab projects — such as major additions in rural North Dakota — carry special limits to protect your capital.

Rehab Scope Eligibility

Tier 1 2 3 4 5
Experience 0 1–2 3–4 5–9 10+
Light Eligible Eligible Eligible Eligible Eligible
Moderate Ineligible Eligible Eligible Eligible Eligible
Heavy Ineligible Eligible Eligible Eligible Eligible
Extensive Ineligible Ineligible Eligible Eligible Eligible

Tip:
First-time North Dakota investors are encouraged to stick to light and moderate rehab projects to minimize risk.

LTARV Limits

Your maximum Loan-To-After-Repair Value (LTARV) for North Dakota projects is influenced by your experience and the scope of the rehab.

Tier 1 2 3 4 5
Experience 0 1–2 3–4 5–9 10+
Light 70% 70% 75% 75% 75%
Moderate Ineligible 70% 75% 75% 75%
Heavy Ineligible 70% 75% 75% 75%
Extensive Ineligible Ineligible 70% 70% 70%

By staying within LTARV limits, you ensure deals in places like Fargo, Minot, and Grand Forks are properly capitalized and lower your exposure to market swings.

LTFC Limits (Loan-To-Full-Cost)

Extensive rehabs — where the construction budget rivals or exceeds the purchase price — are limited through LTFC caps.

Tier 1 2 3 4 5
Light N/A N/A N/A N/A N/A
Moderate Ineligible N/A N/A N/A N/A
Heavy Ineligible N/A N/A N/A N/A
Extensive Ineligible Ineligible 85% 90% 90%

Example:
If you’re an experienced investor rehabbing a fourplex in Bismarck, you could finance up to 90% of the total project cost — keeping strong skin in the game.

Example 1: New Investor with No Prior Experience

  • Purchase price: $100,000

  • Experience tier: 1 (no completed projects)

  • Credit score: 695

  • Rehab budget: $24,000

  • After Repair Value (ARV): $150,000

  • Initial advance: $75,000 (75% of purchase)

  • Construction holdback: $24,000

  • Total loan amount: $99,000

  • LTARV: 66%

  • LTFC: 79.8%

  • Interest accrual: Full boat (interest charged on total loan)

Example 2: New Investor, Excellent Credit

  • Purchase price: $100,000

  • Experience tier: 1 (no completed projects)

  • Credit score: 750

  • Rehab budget: $24,000

  • After Repair Value (ARV): $150,000

  • Initial advance: $80,000 (80% of purchase)

  • Construction holdback: $24,000

  • Total loan amount: $104,000

  • LTARV: 69.33%

  • LTFC: 83.9%

  • Interest accrual: As disbursed (interest charged only on drawn funds)

Example 3: Experienced Investor (5 Completed Projects)

  • Purchase price: $100,000

  • Experience tier: 4 (5 completed projects)

  • Credit score: 750

  • Rehab budget: $20,000

  • After Repair Value (ARV): $150,000

  • Initial advance: $90,000 (90% of purchase)

  • Construction holdback: $20,000

  • Total loan amount: $110,000

  • LTARV: 73.33%

  • LTFC: 91.67%

  • Interest accrual: As disbursed

Refinance: Using As Is Value Instead of Cost Basis

In most North Dakota bridge loans, underwriting is based on the cost basis (purchase price + rehab costs).
However, in some cases where appreciation is strong — such as long-held properties in Bismarck or Grand Forks — we can offer loans based on current As Is value.

Refinance Eligibility Requirements:

  • Property is habitable (C4 condition or better)

  • Held for at least 3 years

  • No recent loan defaults, penalties, or late fees

  • Borrower credit score 680+

  • Investor experience tier 3 or higher (minimum 4 completed projects)

  • Comparable sales must support higher value

This helps seasoned North Dakota investors unlock equity from appreciated assets.

Transactions Involving Wholesalers and Assignment Fees

If you're purchasing a wholesale deal in North Dakota — for example, an assignment in Fargo or West Fargo — here's how we handle it:

  • We allow assignment fees up to 20% above the original seller price.

Example:

Stage Price
Seller to Wholesaler (A-B) $100,000
Wholesaler to You (B-C) $125,000
As Is Value $125,000
Value Basis for Initial Advance $120,000

Wholesaler Transaction Guidelines

Requirement Description
Assignment Fee / Price Run-Up OfferMarket can include the assignment fee or double-close price run-up in the cost basis for your initial advance, up to 20% of A-B purchase price
MLS Restrictions OfferMarket may exclude assignment fee or double-close price run-up from financing if the property was listed on the MLS
Documentation Required Full chain of contracts/assignments (A-B and B-C contracts) and wholesaler’s operating agreement
Excluded Fees Finders fees or referral fees are not eligible for financing
Transaction Type Must be an arm’s length transaction between unrelated parties

Construction Holdback

Renovation funds for your North Dakota bridge loan are held in construction holdback — and released as your project advances.

Criteria Guideline
Minimum draw amount None
Maximum draw amount 100% of available holdback
Minimum number of draws 0
Maximum number of draws None
Materials delivered (not installed) 50% reimbursement (with receipts)
Draw inspection App-based, self-serve
Draw turnaround time 0–2 business days
Draw fee $270
Wire fee $30

If your loan is $100,000 or higher, you only pay interest on funds you've drawn — helping North Dakota investors protect cash flow.

Appraisal and In-House Valuation

Every North Dakota bridge loan requires a property valuation — either via third-party appraisal or an in-house valuation if you qualify.

Eligibility for In-House Valuation

Criteria Requirement
Property type Single-family, Duplex, Triplex, Quadplex
Experience tier 4 or higher
Credit score 720+
Rural property Not eligible
New market Not eligible
LTARV 70% maximum

OfferMarket always reserves the right to require a full appraisal, even if you meet in-house valuation criteria.

Exterior Appraisal Guidelines

In certain cases, exterior-only appraisals are acceptable for North Dakota property acquisitions — especially when dealing with:

  • REO sales (foreclosed properties)

  • Sheriff’s auctions (common in counties like Cass and Burleigh)

  • Online auctions

  • Bankruptcy sales

Important:
Exterior appraisals must be dated within 120 days of closing.
If your appraisal is between 120 and 179 days old, a simple recertification is needed.

Interior Appraisal Guidelines

For all other North Dakota properties not eligible for exterior appraisal, a full interior inspection appraisal is required.

Property Type Appraisal Forms Required
Single-family 1004 + 1007 ARV with As Is value
2–4 unit multifamily 1025 + 216 ARV with As Is value
Condominium 1073 + 1007 ARV with As Is value

OfferMarket will coordinate the appraisal directly through an approved Appraisal Management Company (AMC).
You'll be asked to pay for the appraisal before your file is processed further.

Appraisal Transfer Policy

Already have an appraisal in hand from another lender for your Fargo or Bismarck property?
You might be able to transfer it — if:

  • It was ordered through an approved AMC.

  • It’s less than 180 days old.

  • If between 120–179 days old, a recertification will be needed.

  • The original lender provides a signed transfer letter, the PDF and XML files, and a paid invoice.

This saves time and cost, speeding up your North Dakota bridge loan process.

Scenario: Stabilized Bridge Loan

If your investment property in North Dakota is already stabilized — meaning it's in good condition with no major repairs needed — you might qualify for a Stabilized Bridge Loan.

This type of loan allows you to borrow against the current As Is value, without including a rehab budget.

Criteria Guideline
Maximum LTV Tier 1 & 2: 70%; Tier 3, 4, 5: 75%
Maximum LTFC Tier 1 & 2: 80%; Tier 3, 4, 5: 90%
Appraisal condition rating C1, C2, C3, or C4
Loan term (maximum) 12 months

This is perfect for properties that are rent-ready or market-ready in places like Grand Forks, Valley City, or even emerging neighborhoods around Minot.

Key Loan Details

Criteria Details
Loan amount $25,000 to $2,000,000
Units per property 1–4
Eligible property types Single-family, 2–4 unit multifamily, condos, townhomes, PUDs
Minimum property size Single-family: 700+ sq ft; Condo or 2–4 units: 500+ sq ft per unit
Maximum acreage 5 acres
Loan-to-cost (LTC) Up to 90% purchase, 100% rehab
Loan-to-after-repair value (LTARV) Up to 75%
Minimum down payment $10,000 if purchase price < $100,000
Loan term 12 months standard (extensions available)
Points (origination fee) 1.5 to 2 points (minimum $2,000)
Prepayment penalty None
Occupancy Non-owner occupied (business purpose only)
Transaction types Purchase, refinance
Amortization Interest-only with balloon payment at maturity
Interest accrual Full boat for <$100K; As disbursed for $100K+

Extensions

Life happens — even in real estate.

If your North Dakota rehab or flip project needs more time than originally planned, loan extensions are available:

Original Loan Term Maximum Extension Period
12 months Up to 6 months
18 months Up to 9 months
24 months Up to 12 months

Typically, extensions are granted in 3- or 6-month increments depending on your project's needs.

Extension Terms and Fees

Extension Term Fee
3 months (first request) 1% of total loan amount
3 months (second request) 1.5% of total loan amount
6 months (first request) 2.5% of total loan amount

Fees are added to your final payoff balance — so make sure to factor that into your project’s timeline if you're flipping or refinancing a North Dakota property.

Extension Prerequisites

Before approving an extension, OfferMarket requires proof that your builder’s risk insurance remains active during the extension period.

This protects both you and your property investment — whether it’s a duplex in Fargo or a triplex in Bismarck.

Ineligible Property Types

Certain properties are not eligible for North Dakota bridge loan financing through OfferMarket:

  • Mixed-use properties

  • Multifamily with 5+ units

  • Condotel units

  • Co-op properties

  • Mobile homes or manufactured homes

  • Commercial retail, office, or industrial buildings

  • Cabins or log homes

  • Properties tied to oil or gas leases

  • Operating farms, ranches, or orchards

  • Vacation or seasonal homes

  • Luxury estates

  • Properties on dirt or unpaved roads

Keeping our focus on traditional 1–4 unit residential investment properties ensures strong outcomes for North Dakota investors.

Exception Scenarios

Some exceptions to standard guidelines may be considered for strong applicants in North Dakota:

  • Credit scores between 660–679

  • Leasehold properties

  • Single-family homes between 500–699 sq ft

  • 2–4 unit properties with unit sizes between 400–499 sq ft

  • Initial advances based on As Is value instead of cost basis

  • Non-arm’s length transactions

  • Financed interest payment structures

All exception requests are reviewed carefully by the OfferMarket loan committee.

Borrower and Guarantor Requirements

To qualify for a North Dakota bridge loan, all borrowers and guarantors must meet OfferMarket’s eligibility standards:

Item Requirements / Eligibility
Borrowing entities LLC or Corporation (nonprofits not eligible)
Eligible borrowers U.S. Citizens, U.S. Permanent Residents, select Foreign Nationals
Foreign nationals Must have valid passport, visa (or be in Visa Waiver Program)
Credit requirements Minimum FICO score 680 (exceptions for 660–679 possible)
Liquidity requirements Cash to close plus 25% of rehab budget in liquid assets
Eligible liquid assets Bank accounts, brokerage accounts, retirement accounts (50% haircut on retirement balances)
Guaranty structure 51% ownership must guarantee (purchase); 100% must guarantee (refinance)
Net worth requirement Net worth must equal at least 50% of loan amount

These requirements support responsible lending for all North Dakota bridge loan applicants.

Liquidity Verification

Requirement Description
Minimum Liquidity Requirement Guarantor(s) must have estimated cash to close plus 25% of rehab budget available in liquid assets
Eligible Liquid Assets - Personal bank account(s)
- Borrowing entity bank account(s)
- Other business entity bank account(s) (operating agreement verification required)
- Personal brokerage account(s)
- Borrowing entity brokerage account(s)
- Other business entity brokerage account(s) (operating agreement verification required)
- Personal retirement account(s) (50% reduction applied)
Business Bank Account Not required, but recommended for accounting and risk management
Movement of Funds No need to move funds before closing; funds are verified from account statements and cash to close is wired at settlement

Credit and Background Items

A complete credit and background review is performed on all guarantors.

Credit Evaluation:

  • If three scores are available, the middle score is used.

  • If two scores are available, the lower score is used.

  • Lack of mortgage tradelines or fewer than five tradelines may trigger interest reserves.

Background Standards

Situation Outcome
Bankruptcy discharged <4 years ago Not eligible
Bankruptcy discharged 4–7 years ago May require 3 months' interest reserves
Foreclosure completed <4 years ago Not eligible
Foreclosure completed 4–7 years ago May require 3 months' interest reserves
Recent mortgage late payments Letter of Explanation required
Past due tradeline balances Must be cleared before closing
Involuntary liens/judgments Must be satisfied before funding
Pending civil lawsuits Reviewed by loan committee
Pending criminal cases Not eligible
Serious criminal offenses Not eligible or subject to committee review

Interest Reserves

In some cases, interest reserves are collected at closing to ensure smooth loan servicing.

Scenario Interest Reserve Requirement
Lender discretion 0 months
Guarantor FICO score 700+ 1 month
Guarantor FICO 660–699 3 months
Guarantor FICO 660–699 with background issues 6 months

Interest reserves are drawn down monthly before borrower payments are required.

Financed Interest Payments

In North Dakota, qualified investors may opt for financed interest payments — meaning:

  • No monthly payments during the bridge loan term.

  • Instead, interest accrues and is added to the loan payoff balance.

Example:

  • Loan amount: $100,000

  • Interest rate: 12% annually

  • Months held: 9

  • Accrued interest: $9,000

At payoff:

  • Principal balance: $100,000

  • Accrued interest: $9,000

This structure preserves cash flow for your active projects across the state.

Property Sourcing Guidelines

OfferMarket enforces sourcing standards to ensure clean, reliable transactions:

  • New market transactions must either have a General Contractor agreement or a signed Letter of Explanation if no GC is used.

  • Wholesale deals and price run-ups require full documentation.

  • Large condo renovation projects may require engineering documents.

Submission Package Must Include:

  • Purchase contract

  • Settlement statements

  • Payoff letters (for refinances)

  • Track record documentation

  • Borrowing entity documents (Articles of Organization/Incorporation, Operating Agreement, Certificate of Good Standing, W-9)

Bridge Loan Insurance Guidelines

Proper insurance is mandatory for your North Dakota bridge loan project:

Coverage Type Requirement
Dwelling Replacement cost or loan amount (whichever is higher)
Liability $1 million per occurrence / $2 million aggregate
Builders Risk Required
Flood Insurance (if needed) Greater of $250,000 or loan balance

Insurance Policy Requirements:

  • AM Best Rating: A- VIII or better

  • Policy Type: Special Form coverage

  • Deductible: Between $1,000 and $5,000

  • Lender Designation: OfferMarket listed as Mortgagee and Additional Insured

  • Cancellation: 30-day advance notice required

Tip:
Once you take possession of your property, immediately install smoke detectors, locks, and security cameras to satisfy insurance standards.

Frequently Asked Questions

What states does OfferMarket fund bridge loans?

OfferMarket provides bridge loans for 1–4 unit residential investment properties in most U.S. states, including North Dakota.

Eligible states include Alabama, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Washington, Washington D.C., West Virginia, Wisconsin, and Wyoming.

For states like Arizona, Nevada, North Dakota, South Dakota, and Vermont where licensing is required, OfferMarket refers clients to licensed capital providers.

Can I have multiple bridge loans at the same time?

Yes. Many investors operate multiple active bridge loans with OfferMarket.
However, each new loan undergoes liquidity and exposure review to ensure responsible leverage management.

Are bridge loans considered commercial loans?

Yes. Bridge loans are business-purpose commercial loans, issued to your business entity (LLC or Corporation), not to you personally. They are strictly for non-owner-occupied investment projects.

What is the minimum loan amount for a North Dakota bridge loan?

The minimum bridge loan amount is $25,000.

What types of properties qualify for North Dakota bridge loans?

Eligible properties include:

  • Non-owner occupied single-family homes

  • Townhomes

  • Warrantable condominiums

  • Small multifamily properties (2–4 units)

  • Planned Unit Developments (PUDs)

Mixed-use buildings, large multifamily (5+ units), and other commercial real estate do not qualify under this program.

How is Loan-to-Value (LTV) calculated?

Two ratios are used:

  • LTV = Loan amount ÷ current As Is value

  • LTARV = (Purchase price + rehab funds) ÷ projected After Repair Value

Your initial advance is based on the lower of purchase price or As Is value.

What credit score is needed for a North Dakota bridge loan?

A minimum FICO score of 680 is required. Borrowers with scores between 660–679 may be considered on an exception basis.

Credit requirements apply to every personal guarantor.

Is prior real estate experience required?

No. Prior experience is not mandatory to qualify for a North Dakota bridge loan.

However, successful rehab experience may qualify you for higher leverage tiers.

Does wholesaling count toward experience?

No. Only projects where you personally funded and completed renovations count toward your experience level.

What documentation is needed for a North Dakota bridge loan?

For Purchases

Loan File Section Description
Purchase Contract Fully executed by buyer and seller
Credit Report Soft tri-merge credit report for each guarantor
Background Report Required for each guarantor
Track Record Required for each guarantor
ID Verification Government-issued ID (e.g., driver’s license, passport)
Borrowing Entity Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, W-9
Scope of Work Detailed rehab budget for ARV determination
Appraisal Report Pay invoice to initiate appraisal process
Bank Statements Two most recent statements for each guarantor
Letter of Explanation If requested by underwriting (e.g., large deposits, background items)

For Refinances:

Loan File Section Description
Settlement Statement Fully executed by buyer and settlement agent
Credit Report Soft tri-merge credit report for each guarantor
Background Report Required for each guarantor
Track Record Required for each guarantor
ID Verification Government-issued ID (e.g., driver’s license, passport)
Borrowing Entity Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, W-9
Sunk Costs Documentation of costs already incurred
Scope of Work Detailed rehab budget if additional renovations
Appraisal Report Pay invoice to initiate appraisal process
Bank Statements Two most recent statements for each guarantor
Letter of Explanation If requested by underwriting (e.g., large deposits, background items)

Are there special requirements for loans over $1 million?

Yes:

Criteria Explanation
Experience Minimum 3 completed projects at a similar or greater price point strongly preferred
Market liquidity At least 3 MLS comps sold within a 2-mile radius over the last 6 months
Credit score Minimum 680 with at least 5 active trade lines
Rural designation Not eligible if designated rural by CFPB or USDA
Track Record Required for each borrowing entity member

Glossary of Key Terms

Term Definition
ADU Accessory Dwelling Unit
Arm’s Length Independent transaction between unrelated parties
Non-Arm’s Length Transaction between related parties
Initial Advance Portion of bridge loan used for property acquisition
Construction Holdback Funds reserved for renovations
Interest Reserves Interest collected upfront
LOE Letter of Explanation
LTC Loan-to-Cost (loan ÷ total purchase + rehab costs)
LTFC Loan-to-Full-Cost (loan ÷ full project cost)
LTV Loan-to-Value (loan ÷ current property value)
LTARV Loan-to-After-Repair Value (loan ÷ projected ARV)
As Disbursed Interest Interest charged only on drawn funds
Full Boat Interest Interest charged on full loan balance
Lopsided Deal Rehab budget exceeds purchase price or value
GC Agreement Contract with General Contractor
DSCR Debt Service Coverage Ratio (net rental income ÷ debt obligations)
PITIA Principal, Interest, Taxes, Insurance, and HOA dues

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OfferMarket Capital LLC proudly supports North Dakota real estate investors with smart, affordable bridge loans and DSCR loan programs.

We are dedicated to helping you scale your portfolio, boost your returns, and build lasting wealth.

Thousands of real estate investors choose OfferMarket for:

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  • Priority access to exclusive off-market deals

  • Powerful market insights to fuel smarter investments


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