03/25/2025
Sellers, you have options! You don't have to sell your home prior to getting your new home into contract.
I wanted to share a quick success story that shows just how powerful bridge loans can be for a seller looking to buy non-contingent offer; not needing to sell your existing home first.
One of my clients recently applied for a bridge loan within two weeks, without an appraisal, they had their funds. Now, their new home is basically clear to close for their April 15th closing.
This speed has made all the difference in getting their offer accepted without a home sale contingency.
For buyers looking to stay competitive in today’s market, a bridge loan can be the key to making strong, non-contingent offers while still unlocking their home equity for the next purchase.
Of course, clients need to qualify for the bridge loan 😊. This is not a one size fits all solution but when it works, it works fast!
On top of this, once they sell their current home and have extra funds, they plan to do a mortgage recast. This will allow them to lower their monthly payment by making a lump sum payment toward the principal, after which the lender will recalculate their payment based on the new, lower balance while keeping the same interest rate and loan term. This helps reduce monthly costs without refinancing, avoiding high fees and extra paperwork.
EVERYBODY WINS! Call me if you'd like to sell your home Amy 651-983-4397.