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Want to buy a new house before selling your current one? A Bridge Home Loan can help you do just that. At Clear Rate Mortgage, we offer flexible bridge loans so you don't miss out on your next dream home while your current property is still on the market.
What's a Bridge Home Loan?
A Bridge Home Loan is a short-term loan that gives you money to buy a new home before selling your current one. This loan covers the down payment or other costs of buying a new home, letting you move forward without waiting for your old home to sell. Once you sell your current home, you pay back the bridge loan.
Why Get a Bridge Home Loan?
- Buy First, Sell Later: A bridge loan lets you get your next home while your current one is still for sale, taking away the stress of having to sell first.
- Act Fast: In hot markets, being able to buy quickly can make all the difference in getting the house you want.
- Short-Term Solution: Bridge loans are meant to be paid off when your old home sells, giving you flexibility during your move.
- Cover Down Payments: Bridge loan funds can help with the down payment on your new home, letting you make strong offers.
Who Can Get a Bridge Home Loan?
Bridge loans are usually for homeowners buying a new home while selling their current one. You'll need:
- Good Finances: Lenders will check your credit and money situation to make sure you can handle the loan until your current home sells.
- Enough Home Equity: You need to have built up enough value in your current home to qualify for a bridge loan.
- A Sale Plan: Lenders usually want your home to be listed for sale or for you to have a clear plan to sell it.
How Clear Rate Mortgage Can Help
At Clear Rate Mortgage, we're here to help you buy and sell homes at the same time. Our team will work with you to get the bridge loan you need, making your move from old home to new home smooth and easy.
Ready to Move Forward?
If you're set to make your next move without waiting, Clear Rate Mortgage is ready to help. Pre-Qualify Now! and start the process of getting your new home while your current one is still on the market.
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