Re: Bridge Loans – How Do They Work & When You May Need Them
Let’s say you are looking to move into a new home, but the sale of your current property is taking too long to close. This may be a scenario when a Bridge Loan can help. If you have already arranged a firm-sale on your current property, you may be eligible to receive a bridge loan to use up-to 90% of the equity (past closings costs) towards your new home, until your old sale is finalized. When your old property is finally sold, balance of your bridge loan + interest (for the time it was lent out) is returned to the bank – no more, no less.
For more Mortgage and Loan information go to Centum Pro-Link Mortgages at 672loan.com
(I apologize for the sound quality issues. In an effort to improve production value, my production team and I are constantly trying new equipment and software. We learned a lot from this experience and will hopefully have a remedy before out next live broadcast)
Let’s say you are looking to move into a new home, but the sale of your current property is taking too long to close. This may be a scenario when a Bridge Loan can help. If you have already arranged a firm-sale on your current property, you may be eligible to receive a bridge loan to use up-to 90% of the equity (past closings costs) towards your new home, until your old sale is finalized. When your old property is finally sold, balance of your bridge loan + interest (for the time it was lent out) is returned to the bank – no more, no less.
For more Mortgage and Loan information go to Centum Pro-Link Mortgages at 672loan.com
(I apologize for the sound quality issues. In an effort to improve production value, my production team and I are constantly trying new equipment and software. We learned a lot from this experience and will hopefully have a remedy before out next live broadcast)