Bridge Loans
Bridge Loan Service in Red Lodge, Bozeman and Billings, Montana
Bridge Loans, also known as Bridge Financing or Bridge Mortgages, are short-term loans designed to "bridge" the gap between the purchase of a new property and the sale of an existing one. These loans provide temporary financing to cover the down payment or purchase price of a new property until the sale of the current property is finalized. Bridge Loans are ideal for borrowers who need immediate funds to secure a new home while awaiting the proceeds from the sale of their current property.
What you can expect with Bridge Loan Services
Short-Term Financing
Bridge Loans are short-term loans with a typical duration of six to 12 months. They provide temporary financial assistance during the transition period between selling one property and purchasing another.
Speed and Convenience
Bridge Loans offer quick and streamlined financing, allowing borrowers to secure funds promptly to facilitate a smooth real estate transaction.
Flexible Repayment Options
Depending on the lender and loan terms, borrowers may have various repayment options. Some loans may require monthly interest-only payments, while others may allow for deferred interest payments until the end of the loan term.
