Bridge Loans Being Offered Again

Want to sell but need to find the right house first? Many of my clients are in this position.  So that leaves the millionaire dollar question, do you sell first or buy first?

Is there an easy answer?  Now, there is.

Sellers inquire about a bridge or swing loan often, and until now I have had to say that type of loan no longer exists. Huntington Valley bank is now offering a bridge loan once again.

This is an amazing tool for buyers with equity in their home in this seller’s market.  It enables them to purchase before they sell.

The requirements include:

•Loan amounts up to $350,000

• Cash Out up to 80% of appraised value

• Interest Only Payments

• Minimum credit score of 700

• Current home must be listed for sale

• Primary residence only

• Swing loan can be in 1st or 2nd lien position

And best of all you can purchase your dream home when you find it!

For more information, contact me.  As a 55+ expert, I am happy to help you explore your options to find you the perfect home.