What are Residential Bridge Loans?
Residential bridge loans are short-term financing options homeowners use to purchase a new property before selling their existing home. Typically, bridge loans have a shorter duration than traditional mortgages and are intended to be repaid within a year or upon the sale of the original property.
Benefits of Choosing a Residential Bridge Loan
Quick access to funds ensures you don't miss out on purchasing your dream home due to timing issues.
Offers a temporary financial cushion between buying a new home and selling your existing one.
Avoids the need for contingencies in home-buying contracts.
Provides the financial support to move to your new home while waiting for your old house to sell.
Ideal Scenarios for Using a Bridge Loan
- Buying a new home before selling your current one.
- Avoiding contingent offers in competitive real estate markets.
Our Residential Bridge Loan Services
Loan Hard Money LLC offers tailored bridge loan solutions with competitive interest rates and flexible repayment options.
How to Apply for a Residential Bridge Loan
The application process is streamlined for your convenience. Here’s how you can start:
- Consultation: Discuss your needs with our experts.
- Application: Submit the necessary financial documents and property details
- Approval Process: We assess your application quickly to provide a prompt decision.
- Funding: Once approved, the funds are disbursed, paving the way for your next home purchase.
FAQs and Resources
To help you better understand residential bridge loans, we’ve compiled a list of frequently asked questions and a resource section on our website.
Get started with us today!
With Loan Hard Money LLC, bridge the financial gap in your home buying and selling journey confidently and easily.