top of page

Bridge Loans

Bridge loans meet a pervasive problem in the housing market with an effective solution.  Each year, millions of Americans find themselves in a situation that calls for them to relocate.  Whether a new job has been secured, downsizing is in order, or any other variety of compulsions, life changes can have your home being listed on the market in a blink of an eye.  A rushed sale is sloppy, less profitable, and leaves you highly vulnerable to any complications that may slow the closing process, potentially even rendering you temporarily homeless.  Sell on your terms and on your schedule with our bridge loan programs.

Image by Luke Besley

Bridge loans are a form of temporary financing that serves homeowners who intend to sell their home and relocate, but do not wish to sell their current home right away, or cannot wait out the potentially lengthy process of listing, marketing, and closing their home sale before making their move.

Let's browse some of the highlights:

​​

  • Quick Turnaround Times, Quick Approval

  • Interest-Only Or Deferred Payments

  • Typical Coverages of 12 , 18, or 24 month terms.

​

However, this is not a program that automatically suits anyone and everyone that finds themselves in a buy now, sell later situation.  As a form of short term financing, bridge loans typically carry higher interest rates and closing costs than long term financing programs.  If you sell your home in significantly less time than your bridge loan term, you won't be paying much interest though.

​

Contact us to explore whether a bridge loan or cash out refinance is the best solution for your scenario.

Found This Helpful?  Spread the Information:

Got Docs?

Getting Prepped for Approval

Documentation requirements for bridge loan programs vary sharply from lender to lender as a unique financing program, unlike the standardized requirements of government and conventional loans.  Traditional income and asset requirements may not be applicable depending on your scenario.  For the most part, bridge loans are stated income, and tend to be relaxed in doc requirements but strict in LTV limits.


Upon reviewal of your application, you will be sent a comprehensive list of the documents you will need to successfully qualify for bridge financing.  If you have any questions regarding what these requirements may look like, visit our prior to approval checklist page, or reach out to one of our licensed loan originators.

Don't know what you need? 

Want professional advisement?

Contact Us

Navigating the mortgage process isn't the most straightforward procedure.  It can be stressful, confusing, invasive, and with the wrong team, an absolutely awful entanglement of corporate greed, poor service, and empty promises. 

 

On such an important transaction, especially for first time homebuyers, consultation from a professional who puts their clients' needs first is a must.  Let us demystify and break down the mortgage process for you, and you'll see that in spite of its initial complexity, it is a powerful tool that will guide you into property ownership and begin building you generational wealth.  

CONTACT US!

Thanks for submitting!

All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. PURSUANT TO THE REQUIREMENTS OF SECTION 157.007 OF THE MORTGAGE BANKER REGISTRATION AND RESIDENTIAL MORTGAGE LOAN ORIGINATOR ACT, CHAPTER 157, TEXAS FINANCE CODE, YOU ARE HEREBY NOTIFIED OF THE FOLLOWING: CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE, SIGN AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE DOWNLOADED AND PRINTED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENTS WEB SITE AT WWW.SML.TEXAS.GOV.

www.nmlsconsumeraccess.org

© 2022 by Ryan Hur, HP Mortgage LLC, NMLS #1456273, an Equal Housing Opportunity Lender
output-onlinepngtools (1).png
Privacy Policy | Legal Disclaimer | Protected Under Digital Millennium Copyright Act of 1998 | Accessibility Statement
bottom of page