Building Your Property Bridge
Are you a homeowner who would consider listing with me but need to sell before you buy? Do you need to make a move but also need to use your equity as the down payment for your new home? Are you a buyer who wants to search for your new home with me and have hesitated because you are concerned that your offer will not be accepted contingent on the sale of your existing house first?
Let’s Talk About Bridging the Gap and Making Real Estate Dreams a Reality
What is a Bridge Loan?
It’s a short-term loan that helps “bridge the gap” between the purchase of a new property and the sale of an existing property.
Top 3 Benefits of Using a Bridge Loan
01.
They Facilitate Your Quick Purchase
It enables you to buy a new property before selling your current one, preventing delays in securing your desired property.
02.
They Have Flexible Repayment Options
Bridge loans often offer flexible repayment terms, allowing borrowers to repay the loan once their existing property sells or when they secure long-term financing.
03.
No Contingencies
Unlike traditional loans, bridge loans typically don’t have contingencies related to the sale of your existing property, giving you more flexibility and negotiating power in real estate transactions.
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Source: Yahoo! Finance