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Bridge Mortgage Loans from an Experienced Bridge Mortgage Lender Home | Contact | Site Map |
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Bridge Mortgage Loan Definition:
A bridge mortgage loan is a loan that helps to "bridge" the gap between one home or property and another, without the benefit of cash proceeds from the sale of the previous home or property. A bridge mortgage loans is also sometimes referred to as a swing loan.
Why would someone use a bridge real estate loan?
A bridge mortgage loans is a way for a homeowner to cover financing costs when selling a home or property and purchasing another. The bridge mortgage loans provides financing to buy a new property before the proceeds of the old property become available. Bridge loans can be risky if the sale of the old property falls through.
A bridge mortgage loans is usually based on the amount of equity in the borrower’s current property with the proceeds going towards the purchase of the new property. |
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Pre-qualifying with our loan team for a bridge mortgage loan is easy, fast and getting started is just a click away. Either fill out our online application or phone our Director of Operations to see whether you qualify for a hard money loan.
Craig Cecilio
ph: (858) 456-2423
fax: (858) 225-3683
Click here for our hard money loan application
Bridge Mortgage Loan Structure
Terms of a bridge mortgage loans can vary. Some bridge mortgage loans are structured so that they completely pay off the old property's first mortgage, while other bridge mortgage loans pile the new debt on top of the old.
A typical bridge mortgage loans might be structured as follows: The bridge mortgage loans is used to pay off the existing mortgage, and the remaining money from the bridge mortgage loans (minus closing costs and six months prepaid interest) is used as a down payment on the new property. If, after six months, the old property still is not sold, the borrower will begin making interest-only payments on the loan. Often, the bridge mortgage loans has a term of one-year. The mortgage on the new property must be financed by the same lender who extended the bridge mortgage loans.
If you would like to apply for a bridge real estate loan through the Coastal La Jolla Funding, click on our bridge mortgage loans application.
For our Bridge Mortgage Loan Print Page, click on our Bridge Mortgage Loan Print Page. |
BRIDGE MORTGAGE LENDER INFORMATION
Note: Coastal L.A. Jolla Funding
is a California bridge mortgage hard money lender and Florida bridge mortgage hard money lender that funds hard money loans, bridge mortgage loans and commercial hard money loans within California
and Florida. We specialize in California bridge mortgage loans, Florida bridge mortgage lender
loans, commercial hard money lender loans, hard money real estate loans,
hard money constructions loans, bridge mortgage personal loans, direct bridge mortgage loans, subprime loans and bridge
mortgage loans. As both a hard money lender and a bridge mortgage lender, the material on this web site covers
a variety of topics on bridge mortgage loans
and is for informational purposes
only. The information on our hard money loan lender website
is inherently limited in scope, may change without notice,
and does not contain all of the applicable terms, conditions,
limitations and exclusions of the products and services
described herein.
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