Bridge loans are a great option for you to help waive contingencies and get you to closing FAST! Bridge loans help ‘bridge’ the gap when you are looking at selling your existing home and looking to purchase a new home, but with the added benefit that you don’t have to sell your current home!
This is extremely helpful and important in our current market. You can buy your new home and use your exiting home to help with the down payment PRIOR to the sale of your home.
Basically, we help you with your new purchase and we finalize the loan with no ‘sale of current home’ contingency. Then we assist with a bridge loan on your current home (works in all 50 states). This bridge loan is used for your down payment. You purchase your new home, then when your home sells, you pay off the bridge loan. 2 months, 3 months or 6 months down the road. So you get the security of the new home purchase without the added stress of finalizing your current home sale!
