We Have a Bridge Loan That May Solve Your Problem.
Are you hearing these problems from your buyers?
- “We have a buyer for our house but don’t want to lose our dream home if our sale falls through or gets delayed.”
- “All my money is tied up in my current home.”
- “We’re building a new house and need somewhere to live while we build.”
- “We found a home we love and need time to prep our house before listing it.”
- “That darn bank says we don’t qualify to have mortgage payments on two houses. I guess we cant buy our dream home.”
Our bridge loan product can be a life saver! It allows your buyers to make a non-contingent offer on their new home, which in this market is huge. The buyer is able to stay in their old home until their new home closes escrow, allows them to move in, then they can put their old home on the market.
- One Loan, Which Is Secured By The New Property & The Current Residence
- May Be Able To Borrow Up To 100% Of The Purchase Price Of The New Home Plus Closing Costs
- Provides Your Client The Ability To Make A Non-Contingent Offer
- UnderWriting Focus Will Be on Post-Sale DTI (43%)
This loan is not for everybody, and your buyers do need equity in their old home, and the numbers have to work. But it may be worth a conversation to see if this can be a life saver for you buyers, and get you more closings this year!
Call or email me with questions.
NW Premier Mortgage Inc
NMLS ID: 1537416
2154 NE Broadway St. Suite 120
Portland, OR 97232