SHOULD YOU BUY BEFORE YOU SELL?
Today's market can be very competitive when it comes to purchasing a new home. How do you ease the challenging transition between your current home and your new dream home?
Our buy-before-you-sell bridge loan option is a type of short-term financing that helps bridge the gap between buying a new property and selling your existing property. It is a common solution for homeowners who want to avoid the stress and uncertainty of selling their home first, before buying a new one.
ADVANTAGES OF USING A BRIDGE LOAN:
1. Avoiding Contingencies - Bridge loans allow you to buy a new home without having to sell your existing property first. This means you can avoid the contingency clause that most buyers include in their purchase offer, which requires the sale of their current home before the purchase of a new one.
2. Access to Funds - Bridge loans provide you with immediate access to funds, which can be used to pay for the down payment and closing costs on your new home. This can be especially helpful if you don't have enough cash on hand to cover these expenses.
3. Flexibility - Bridge loans offer flexible repayment terms that can be customized to your specific needs. You can choose to make interest-only payments or make payments that include both principal and interest.
4. Faster Closing Time - Bridge loans can be processed quickly, allowing you to close on your new home faster than if you were waiting for the sale of your existing home to close.
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