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303-770-6801 Correspondence: |
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The
information on this web site is for real estate professionals. Adequate
disclosures for home buyers are not provided. Rates and terms are subject
to change without notice.
The
fix-and-Flip loan is one of the most popular loan products offered
by Merchants Mortgage & Trust. This product is specifically designed
to accommodate residential and commercial investors who want to fix-and-flip
real estate. |
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Bridge Loan Program
Kim Hubbard at Merchants Mortgage offers two unique financing solutions to meet the needs of individuals wanting to purchase a new house prior to the sale of their existing residence. The first option is a simple 2nd Deed of Trust (DOT) Bridge Loan against the current residence. This loan pulls equity from the old home to be used as a down payment on the new house. This option works well for people who have sufficient income to support the debt load within conforming mortgage guidelines. The second option is a Cross-Collateralized Bridge loan with a 2nd DOT on the existing residence and a 1st DOT on the new home. This loan can fund 100% of the purchase price, provided that there is sufficient available equity in the old house. The Cross-Collateralized Bridge Loan is the solution if income will not support (according to conventional mortgage guidelines) the additional debt. Merchants Mortgage has expanded debt-to-income guidelines that make this product viable if conforming mortgages are not available. Upon the sale of the old residence, Merchants Mortgage will do a partial release of the old home. The borrower will then refinance the remaining balance into a long-term conventional mortgage secured by the new residence. Contact
Kim Hubbard at Merchants Mortgage to discuss these unique bridge
loan solutions. Our flexible underwriting criteria and quick response
times can prevent a contract falling from through. FOR
MORE DETAILS PLEASE CONTACT: |
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