One of the most common loans we do are Owner Occupied Bridge Loans.
Most people don’t know what a bridge loan is, but it’s a great way to close fast on a purchase loan when you have a seller or situation that won’t allow a 30-60 day escrow. It’s also a great way to save a purchase transaction when you have a last minute turn-down from a bank.
By definition, a bridge loan is a temporary loan (no more than 12 month term), with streamlined underwriting requirements, often with little or no qualifying, designed to help a borrower get into a new House when they still have a mortgage on their old house, or some other temporary issue, and can’t qualify for a traditional loan.
We can close loans in 5-7 business days.
Investment/rental property OR a primary residence!
Give us a call if you got turned down but still want the house, we may be able to save your purchase.
Realtors put us in your toolbox and save some sales!
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