We understand that unexpected expenses or opportunities can arise, and that’s where our Bridge Loan comes in.
It is a short-term loan that is used to “bridge” the gap between the purchase of a new property and the sale of an existing property. It is designed to provide quick financing to help you make a down payment on a new property before the sale of your current property is complete. The existing property typically secures the loan, and the funds can be used for a variety of purposes, including the purchase of a new home, renovation or repairs on an existing property, or to help cover expenses during a transitional period.
Bridge loans are generally intended to be repaid within a few months to a year, and they often come with higher interest rates and fees than traditional mortgage loans. However, they can be a useful tool for homebuyers and real estate investors who need quick access to funds and don’t want to miss out on a property purchase due to delays in the sale of their existing property
They offers several benefits that make it a great choice for those looking for short-term financing:
It can be a helpful tool in certain situations, but they also come with some pros and cons that should be carefully considered before deciding whether to take out this type of loan. Here are some of the pros and cons of a bridge loan:
There are several types of bridge loans available, each designed to meet the unique needs and circumstances of borrowers. Here are some of the most common types:
Overall, bridge loans can be a helpful financing tool for a variety of borrowers, and the type of bridge loan you choose will depend on your specific needs and circumstances. It’s important to work with a lender or financial advisor who can help you determine the best type of bridge loan for your situation.
Applying for our Bridge Loan is quick and easy. Simply fill out our online application form and one of our loan specialists will contact you to discuss your options and help you find the best loan to meet your needs.
Thank you for considering our Bridge Loan. We are committed to providing our clients with the best financing solutions and look forward to working with you.
Bridge loans can be a helpful financing tool for a variety of borrowers, and the type of bridge loan you choose will depend on your specific needs and circumstances. It’s important to work with a lender or financial advisor who can help you determine the best type of bridge loan for your situation.
Give us a call today at (289) 804-0857 to schedule a free, no-obligation consultation.