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Bridge Loans
Bridge loans: Understanding the requirements A bridge loan works a bit differently than other home loans. It’s typically a short-term loan to help you “bridge the gap” of buying and selling a home at the same time. A bridge loan often has a 6 to 12 month term A higher interest rate Before you consider...
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Making the move with a bridge loan If you’re ready to move on from your old home, but it still hasn’t sold, you may want to consider applying for a bridge loan. Essentially, the loan helps you move on to a new property, by providing an immediate, short-term loan. In this situation, you’re able to...
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Bridge loans vs bank loans: The key differences If you’re hoping to buy a new home, but you still own an existing home, you know the financial stress of potentially owing on two mortgages at the same time. That’s why some homeowners seek out a bridge loan. A bridge loan helps you buy some time...
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Bridge loans: When to use one Finding a new home can be a process, but sometimes you find the right home in the right location at the wrong time. Sure, you may be emotionally ready to move, but if you’ve already found a new home and you’re still waiting for your current home to sell,...
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Bridge loans: Understanding how they work You’ve found a great new home to buy, but your current home hasn’t sold. That’s the financial dilemma some homeowners find themselves stuck in. Without the funds available to purchase a new home immediately, you may lose out. A bridge loan can help “bridge the difference” when you want...
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