Whether you're moving down the street, or you're moving out of town. has the perfect way for you to buy a new home before you've sold your existing one. Introducing the Home Bridge Loan---a mortgage that temporarily covers both the home you are selling and the home you're buying…with one monthly payment, one closing and low interest rate.

Easy Qualifying!
Because we know you'll only be obligated for both properties for a short period of time, you'll only have to qualify for the loan amount of your new home. We will also only require you make "principal and interest" payments on the home you are selling. Payment of property taxes and insurance is not required.

Borrower Profile
Works great for relocating borrowers Needs equity from the old home to close on a new purchase Does not qualify for financing both homes until the previous residence sells Requires a "contingency free" approval so the builder can break ground now Reluctant to liquidate other assets to meet down-payment guidelines
Easy on the pocket too!

You also won't have to pay for mortgage insurance, either, because we don't require it up to 85% loan-to-value. And we won't charge you a higher price in rate to make up for it! In addition, you'll save money on our low interest rate compared to that of a home equality loan. Plus you and your Real Estate Agent will be in a better bargaining position on your new home without having a "contingent on sale of home" clause to dilute your offer. The Home Bridge Loan is a great financing solution for people on the move.

Benefits
Bridge financing is not considered when qualifying for a new home purchase allowing the borrower to qualify for "more home". No out-of-pocket payment for at least 6 months (any unused portion of the pre-collected interest will be refunded upon sale of home) Sale of current home need not be a distress sale – Bridge allows up to twelve months to repay Removes the contingency on the purchase transaction Bridge proceeds can fund all costs for both the Bridge and Purchase transactions How it works

This loan allows you to temporarily own both homes by using the equality in your existing home toward a downpayment on your new home. When your existing home sells, that part of the Home Bridge mortgage is paid off, and your monthly payment adjusts to cover only your new home. It is a great move to avoid having to move 2 times or cash in assets for a down payment on your new home.