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Bridge Loan Financing
Utilize "dormant" equity in your existing home to leverage your next home purchase.
Are you in a situation where your current family needs a different home, in better location, with other features ... but cash reserves are limited? …No problem! Existing homeowners now can leverage their current home’s equity to Up-size, Downsize, or "Right Size" into their next home and avoid out of pocket spending with a Bridge Loan!
A Bridge Loan allows “Move-Up” home buyers with equity in their existing home to leverage that equity affordably in order to purchase and move into their next home before selling and moving out of their existing home - all while protecting their cash and long terms savings or retirement funds!
Bridge Loan Features & Benefits
1. Utilize your existing home equity to “Up-Size, Down-Size, or Right-Size” and avoid out-of-pocket spending
2. Affordably buy your next home and comfortably move forward into a better lifestyle before you sell your existing home.
3. Avoid the hassle and expense to yourself and to your family of making a “double move” into temporary housing and short-term storage.
4. Avoid the need for a “First Right / Home to Sell” contingency in your next home’s purchase offer.
5. Pre-arranged Bridge Loan financing allows you to make faster, stronger offers on the best homes for sale.
6. Finance up to 80+% of your existing home’s appraised value (less any current mortgage balance).
7. Bridge Loan funds may be used for Down Payment, Closing Costs, and other purposes.
8. Make interest only payments and Credit scores eligible down to 680.
9. Avoid (PMI) Private Mortgage Insurance on your next home’s mortgage with down payment >20%.
10. Comfortably refinance the Bridge Loan arrangement to traditional mortgage financing at end of bridge loan period.
11. Protect your personal savings, and safeguard your retirement plans.
