SteveKnowsLoans, a market leader in the mortgage industry, provides borrowers with a wide range of lending programs to choose from. We provide Residential Bridge Loans as one of our loan options. This piece will focus on the salient aspects and advantages of this lending arrangement.
You can use a residential bridge loan to cover the time it takes to sell your current home and buy a new one. People who want to buy a new house but haven’t yet sold their current one can benefit greatly from this lending scheme. Highlights of our residential bridge loan product include the following:
This financing is available for both first-time homebuyers and first-time investors.
- Customers can stay rent-free until the sale of their current home is finalized.
- Customers can get loans with an LTV (loan to value) of 75%.
- A credit score of 620 or above is required.
- No tradeline is necessary.
- Buildings with several units are permitted.
- Up to 65% LTV, customers can take away cash.
- Anyone from any country can apply; references are not necessary.
- Allowing rentals for shorter durations.*
- The Debt Service Coverage Ratio (DSCR) is not capped at any level.
- Customers can buy empty apartments.
At SteveKnowsLoans, we know that every customer’s financial position is one-of-a-kind. That’s why we have so many different types of loan options available. In order to purchase a new residence while waiting for the sale of an old property, our Residential Bridge Loan program is a great choice.
Clients like the adaptability and ease of use of our Residential Bridge Loan service. While waiting for the sale of their current home, tenants pay no rent. This saves them the money that would have been needed to pay for two properties at once.
Our Residential Bridge Loan product also features a simple application process. Applicants can do so either via the website or by phone. Our professional loan officers will tailor a loan package specifically to each customer’s requirements.
A Residential Bridge Loan from SteveKnowsLoans could be the best choice if you want to buy a new home before your current one sells. We have accommodating payment plans and a simple application procedure. If you are in need of a loan and would like more information about our Residential Bridge Loan program, please contact us now.
Get in touch with one of our lending advisors today.
Call Steven Jackson at 813-616-9411 now!
