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Bridge Loans


Bridge Loan Highlights

The Leaders Bridge Loan program allows homeowners to bridge the divide between their current home and their next home.

 

What is a bridge loan?

A bridge loan is short term financing used by homeowners to access their current home's equity prior to sale for use toward the purchase of their next home.

When the previous home is sold, an applicable portion of the proceeds are used to modify the bridge loan into a traditional permanent mortgage on the new home. Remaining proceeds from the sale are retained by the homeowner.

 

Leaders Bridge Loan Features
Fixed Interest Rates
Interest Only Payments
Up to 6-Month Term
$1,000,000 Max Loan Amount
Up to 90% Combined Loan-to-Value (CLTV)
Up-front Rate Lock on Permanent Loan

 

Why choose a bridge loan?

It's a common predicament for homeowners - how do you transition from your current home to your next home? If not difficult enough, housing market conditions and/or personal circumstances can add to the challenge.

Bridge loans offer a solution to these homeowner hurdles: 

"Contingent offers are not being accepted in this Sellers' Market."

"I have equity in my home, but not enough cash for down payment."

"My dream home has come on the market, but it won't stay there long."

"My growing family is crammed in our home - we need more space ASAP."

"I've landed the perfect job, but I need to relocate fast."

"The logistics and timing of selling before buying are stressing me out."

Leaders Bridge Loans help homeowners span the transitional divide.


 

Contact Our Mortgage Champions
 

Apply Now

731.215.6678

35 Stonebridge Blvd | Jackson

homeloans@leaderscu.com