BRIDGE LOANS: PART THREE
Unlock Efficient Home Purchases with an Innovative Bridge Solution!
Over the past two weeks, we explored how buyers can purchase new properties before selling existing ones. But what happens when the perfect new property isn’t yet available in the market? There is a compelling alternative!
SOLUTION OVERVIEW
Borrowers can:
- First, secure a mortgage against existing personal property
- Second, use mortgage funds to buy another property when it’s available or pay cash for a better deal found in the market
- And, finally, sell old home to pay off the loan
Key Benefits and Features:
- No verification of income required to qualify
- 70% Loan-to-Value (LTV) limit
- 9.75% interest rate (comparable to private money loans)
Additional Costs:
- 2.25% lender fee
- One agency point
- Closing costs
While the above costs may seem substantial, the benefits often outweigh expenses.
Recently presented in our office by LendSure Mortgage, this program offers:
- Flexibility in competitive markets
- Strategic advantage in securing new homes
Follow this link to watch a piece of the original presentation to learn more about the above program.
Please don’t hesitate to contact me to explore how this innovative solution can streamline your new home purchase journey!
Cell: (415) 225-7920;
Email: [email protected]
I promise to help!
Manny Kagan,
President,
Pacific Bay Financial Corporation
NMLS #205637
DRE #00824602