Bridge Loan
Our bridge loans are designed to provide short-term financing to bridge the gap between the purchase of a new property and the sale of an existing one. These loans can be useful when you need immediate funds for a property purchase but haven’t yet sold your current property.
- Typically 12-24 month terms
- Used for short term financing needs
Appointment
Unlocking Your Financial Potential Starts with a Conversation
Navigating the world of real estate financing can be complex. A personalized consultation with one of our specialists is the key to ensuring you’re fully aware of your financing options and making informed decisions to reach your goals.
- Personalized Assessment:
Our financing specialists begin by understanding your unique financial situation and real estate goals. This tailored approach ensures that the financing solution recommended aligns perfectly with your needs.
- Transparent Guidance:
No confusing industry jargon here. During the consultation, we break down complex concepts into clear, understandable terms. You’ll have a complete understanding of the mortgage process, rates, and terms.
- Customized Solutions:
Every borrower is different. Our specialists work to find the best possible mortgage solution for you, taking into account your financial goals, credit history, and current market conditions. We aim to make your homeownership journey as smooth and affordable as possible.
F. A. Q's
Frequently Asked Questions
Bridge loans can be helpful financial tools in specific situations. But with their short-term nature and specific requirements, it’s natural to have questions. This FAQ aims to answer some of the most common inquiries about Bridge loans.
A Bridge loan is a short-term loan designed to "bridge" the gap between your current financial situation and a future event, typically the sale of an asset. It provides temporary funding until you receive the money you need from the sale.
Bridge loans are commonly used in real estate transactions. For example, you might need a Bridge loan if you're buying a new home before you've sold your existing one. They can also be used for other purposes, such as funding a renovation project or covering unexpected expenses.
The amount you can borrow with a Bridge loan typically depends on the value of the collateral you're using to secure the loan (often the property you're buying or selling) and your overall financial strength. Lenders may be willing to lend up to 70-75% of the collateral's value.
Qualifying for a Bridge loan typically requires a good credit history, a strong debt-to-income ratio, and sufficient equity in the collateral you're using to secure the loan. The lender will also consider your exit strategy, which is the plan for repaying the Bridge loan.
Bridge loans come with higher interest rates compared to traditional loans due to their short-term nature and the risk involved for the lender. There can also be additional fees associated with origination, appraisal, and other closing costs.