Bridge Mortgage - A Great Option to Fill Purchase-Sale Gap
In the majority of cases, the sale of existing house and the purchase of a new property go hand in hand. But it is difficult to ensure that both the events coincide perfectly. You may be required to make down payment on the new property before your old house is sold. This is where bridge mortgage comes into the picture. A bridge loan can help you fill the purchase – sale gap. Such loans are usually secured by real estate.
Bridge loan can be used to make down payment on the new property and to repay your original mortgage. This means that even if your old house is yet to be sold, you can gain the ownership of new property. Mortgage Central offers a variety of bridge mortgage products.
Why Opt for Mortgage Central Bridge Mortgage Solutions?
One of the main benefits of Mortgage Central bridge loans is quick access to funds. As the loans are designed for quick closure, they are ideal when you need fast cash to close a real estate deal. The use of bridge loans is more common for commercial real estate purchase or refinance. The flexibility and quick access to funds offered by bridge mortgage solutions is comparable to hard money loans. Mortgage Central offers a number of personal as well as commercial bridge mortgage products. This allows you to choose an option that is most suitable for you.
Mortgage Central offers flexible bridge loans tailored to your requirements. Our team members have many years of experience in the mortgage industry. Mortgage Central is backed by a large pool of private and institutional lenders, which allows us to provide our clients with quick access to a large amount of funds. Because of the unique advantages offered by bridge loans, the rate of interest on such loans is slightly higher than that on other mortgage products. But you can be sure of getting the best possible rates and terms at Mortgage Central.
Request a Free Consultation with Our Bridge Mortgage Specialist Today
If you need fast cash to finance the purchase of a new property and to span the gap until the sale of your old house, bridge mortgage is a great option. Our mortgage specialists can help you better understand the pros and cons of bridge loans. You can reach us on our toll free number or send us your queries through our online contact form. Pick up the phone and call us for a free consultation today.