BRIDGE LOANS HELP YOU MAKE THE RIGHT MOVES. UTILIZE BRIDGE LOANS TO TAKE ADVANTAGE OF A GOOD OPPORTUNITY.
Bridge Loans (usually one to three months) can be advanced to cover the period between the termination of one loan and the start of another. It is arranged generally to complete a purchase (such as a new house) before the borrower receives payment from a sale (of the old house), or before a long-term loan is made available upon fulfillment of its requirements. Also called bridge finance, bridging loan, or gap financing.
Moving to Arizona?
Our most common bridge loans are when we provide the financing for the purchase of a new home in Arizona for someone that is moving here from out of state and they have not sold their current home. Often, someone has made the commitment to move to Arizona but have not completely divested from their previous state. They have a limited time frame to travel to Arizona, shop for a home, and then they have to return to their existing home. We can fund within 24 hours. This provides our clients the opportunity to make cash like offers, and quickly close on their future home, providing peace of mind while they wrap up affairs in their old location.
Great opportunity on a new project?
Sometimes timing in the market is everything. You might be waiting for one of your current projects to close before you start a new one and a great opportunity arises. Bridge loans can help cover that gap between projects. Bridge loans can help relieve some pressure on your cash flow between projects.