Category: Bridge Loans

SALE PROCEEDS: CROSS – COLLATERAL LOAN

Have heard of a bridge loan but you’re what they are? Are they loans to build a bridge? Well, maybe, but not in the sense we are going to talk about. A bridge loan works nicely if you need the proceeds from the sale of your current home to purchase a new home. In essence, the bridge loan gives you an advance of the proceeds from the sale of your home to purchase the new home. It is a temporary loan to help you purchase a new property without selling your current property. You typically need a lot of equity...

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