Bridge Loans help home and real estate buyers secure funding and allow for transition time when selling one home and buying another. Here are five aspects of.
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Whether you're a first time home buyer, moving on to a bigger home, or using your equity to refinance an existing home loan, we can help. Bridge Loans Accent.
A bridge loan is a great way to use the equity in your old home to fund a down payment for a new home you are planning to purchase.
Bridge Loans for Home Purchases. A bridge loan is a type of short-term loan offered by lenders that allows you to "bridge" the gap between the sale of your old residence and the long term.
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Bridge loans can help borrowers move from one home to the next, but they can be dangerous. A bridge loan usually runs for six-month terms and is secured by the borrower’s old home.
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What is a Bridge Home Loan Program? Bridge loans are short term loans that allow you to tap into the equity of your current home, before it is sold, so that you can use the funds to purchase a new home. A bridge loan can: Give you extra time or flexibility in selling your current home while buying a new one.
bridge loans access up to 90% of the equity for a new home down payment for example: current home: if value = $200k and loan = $100k 1. calculate 90% of value: $200k x 0.90 =$180k 2. subtract loan balance: $180k-$100k = $80k bridge loan = $80,000. use your bridge loan as a down payment for your new home: purchase price = $300,000 down payment.