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What is a bridge loan?
It is a short-term bank loan of the equity in the home you are selling. You may take out a bridge loan, or interim financing, to help with a knotty situation: closing on the home you are buying before you close on the property you are selling. This loan basically enables you to have a place to live after the closing on the old home. The key to a bridge loan is having a qualified buy... : What is a bridge loan?Bridge Loans
Bridge loans are used in real estate transactions to cover the down payment on a new home, when the borrower has equity in his old home, but not enough cash.It is generally a short term, interest only loan that is repaid when the homeowner sells his old house.... : Bridge LoansBridge loan
A bridge loan is a type of short-term loan in the financial industry. Bridge loans are typically taken out for a period of 2 weeks to 3 years in order to finance other projects. Uses for bridge loans include real estate purchases, retrieving real estate from foreclosure and business loans for operating capital.... : Bridge loanHome equity loans
Home equity loans are loans that are secured by the equity that you have built up in your home. (Equity is the difference between your home's market value and the amount you owe on it.) A home equity loan will allow you to use some of your home's equity to: Relieve an overwhelming debt burden. If you have trouble making the minimum payments on your bills every month, you... : Home equity loansFor more information about bridge loan: Real Estate?
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