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Term of the Month: Bridge Loan

Unpopular opinion: It is okay to purchase another home even if you haven’t sold your current property yet. 👍🏻

That is because you can apply for a ✨Bridge Loan✨

A bridge loan is a type of short-term loan that is used to bridge the financial gap between the purchase of the new property and the sale of your current property. It provides the borrower with the needed funds to proceed with the purchase while still waiting for the completion of the sale of the current property.

If you have found your dream home but the seller won’t accept your offer until you sell your current home first, a bridge loan may help you. It will give you the necessary funds to complete the purchase. Then, as soon as you sell your home, you can repay the loan using the money from that sale.

DM me if you want to know more!

#realestate #homebuying #homebuyer #loan #financialtips #homeloan #bridgeloan #mortgage #mortgagetips

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