Is your Borrower a Good Fit for a Consumer Bridge Loan?
Let’s face it: people move all of the time and want to buy a new house before selling their old one. They need a financing “bridge” to the new home to be repaid from the sale of their old home. These loans are written for a year or less since the old home can usually be easily sold during that period. Banks are loathed to spend the energy to do these short-term loans and they are often too slow to meet the demands of the marketplace. So, the consumer bridge loan, created on DossDocs, is a perfect solution for the homebuyer.
Achieving the American Dream of Homeownership
With these docs, you can help new homebuyers not only buy a new home before they have sold their old home, but you can provide some cash out to enable them to fix up their old house to get the best price for it. That is money well invested because a refurbished house in move-in condition will sell faster and appeal to more buyers than a fixer-upper. In terms of buying a home, there’s no need for a sale contingency when you make an offer on a new house. In fact, with this loan, you don’t have to sell your current property to buy a new one. When time is of the essence, your borrower can use this loan to get the funds they need for the purchase and the repair of the old home. Help your homebuyer achieve their dreams and goal of a new home by doing a consumer bridge loan on DossDocs.com.